Gerber Kawasaki Wealth & Investment Management Sells 20,773 Shares of Novo Nordisk A/S (NYSE:NVO)

Gerber Kawasaki Wealth & Investment Management lowered its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 20.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,311 shares of the company's stock after selling 20,773 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in Novo Nordisk A/S were worth $7,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC grew its holdings in shares of Novo Nordisk A/S by 74.7% during the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S in the fourth quarter valued at $404,910,000. Loomis Sayles & Co. L P raised its stake in Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Novo Nordisk A/S by 59.8% during the fourth quarter. Clearbridge Investments LLC now owns 4,283,317 shares of the company's stock valued at $368,451,000 after acquiring an additional 1,602,549 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in shares of Novo Nordisk A/S by 23.6% in the 4th quarter. Sustainable Growth Advisers LP now owns 5,340,803 shares of the company's stock valued at $459,416,000 after purchasing an additional 1,021,498 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday. BMO Capital Markets reiterated a "market perform" rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $135.00.

Novo Nordisk A/S Price Performance

NVO traded up $0.53 during midday trading on Monday, hitting $62.61. The company had a trading volume of 6,275,064 shares, compared to its average volume of 6,110,398. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a market capitalization of $280.96 billion, a PE ratio of 19.03, a P/E/G ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a twelve month low of $57.00 and a twelve month high of $148.15. The firm's 50-day simple moving average is $73.62 and its 200-day simple moving average is $89.42.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were paid a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's dividend payout ratio (DPR) is 49.54%.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.