Belpointe Asset Management LLC Sells 5,938 Shares of Novo Nordisk A/S (NYSE:NVO)

Belpointe Asset Management LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 52.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,396 shares of the company's stock after selling 5,938 shares during the quarter. Belpointe Asset Management LLC's holdings in Novo Nordisk A/S were worth $464,000 at the end of the most recent quarter.

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

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $4.89 during midday trading on Friday, hitting $57.99. The company's stock had a trading volume of 32,192,935 shares, compared to its average volume of 5,975,692. Novo Nordisk A/S has a 12 month low of $57.28 and a 12 month high of $148.15. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock's 50-day moving average price is $75.52 and its 200-day moving average price is $91.71. The company has a market capitalization of $260.23 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly 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 return on equity of 84.68% and a net margin of 34.81%. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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. Shareholders of record on Monday, March 31st were paid a $0.7874 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S's payout ratio is 49.54%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research reports. Stifel Nicolaus cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and an average target price of $135.00.

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.