Advisory Services Network LLC Trims Position in Novo Nordisk A/S (NYSE:NVO)

Advisory Services Network LLC cut its stake in Novo Nordisk A/S (NYSE:NVO - Free Report) by 28.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,826 shares of the company's stock after selling 27,260 shares during the quarter. Advisory Services Network LLC's holdings in Novo Nordisk A/S were worth $5,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVO. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after buying an additional 123 shares during the period. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company's stock worth $44,000 after acquiring an additional 278 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after purchasing an additional 243 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $46,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Novo Nordisk A/S in the fourth quarter worth $47,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 5.8 %

NVO stock traded up $3.55 during midday trading on Friday, hitting $64.76. The company's stock had a trading volume of 11,381,677 shares, compared to its average volume of 5,812,975. The firm's 50-day moving average is $77.87 and its 200-day moving average is $93.34. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 12 month low of $59.32 and a 12 month high of $148.15. The company has a market cap of $290.59 billion, a PE ratio of 19.68, a P/E/G ratio of 0.90 and a beta of 0.61.

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

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were issued a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. The ex-dividend date was Monday, March 31st. Novo Nordisk A/S's payout ratio is presently 49.54%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVO. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Finally, Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.25.

Novo Nordisk A/S Company Profile

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.