NewEdge Wealth LLC Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

NewEdge Wealth LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,774 shares of the company's stock after selling 6,769 shares during the period. NewEdge Wealth LLC's holdings in Novo Nordisk A/S were worth $3,507,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NVO. Spinnaker Trust boosted its stake in shares of Novo Nordisk A/S by 1.1% in the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company's stock valued at $1,145,000 after purchasing an additional 100 shares in the last quarter. Marco Investment Management LLC boosted its position in Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company's stock valued at $798,000 after buying an additional 100 shares during the period. Carr Financial Group Corp grew its stake in shares of Novo Nordisk A/S by 5.1% during the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company's stock valued at $250,000 after buying an additional 101 shares during the last quarter. Menard Financial Group LLC increased its holdings in shares of Novo Nordisk A/S by 0.8% in the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company's stock worth $1,463,000 after buying an additional 102 shares during the period. Finally, Optimist Retirement Group LLC boosted its holdings in Novo Nordisk A/S by 4.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company's stock valued at $327,000 after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 1.4 %

NYSE NVO traded down $1.23 during trading on Monday, hitting $89.42. The company had a trading volume of 4,804,403 shares, compared to its average volume of 9,050,710. The company's fifty day moving average is $84.84 and its 200-day moving average is $106.18. Novo Nordisk A/S has a one year low of $77.82 and a one year high of $148.15. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market cap of $401.28 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S's payout ratio is currently 47.72%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVO. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.25.

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.