Truist Financial Corp Sells 12,561 Shares of Novo Nordisk A/S (NYSE:NVO)

Truist Financial Corp cut its holdings in Novo Nordisk A/S (NYSE:NVO - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 563,234 shares of the company's stock after selling 12,561 shares during the period. Truist Financial Corp's holdings in Novo Nordisk A/S were worth $48,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NVO. International Assets Investment Management LLC lifted its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company's stock valued at $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S in the third quarter worth about $98,765,000. DAVENPORT & Co LLC raised its stake in shares of Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company's stock worth $90,477,000 after buying an additional 451,641 shares during the period. Wellington Management Group LLP purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at about $42,017,000. Finally, World Investment Advisors LLC grew its stake in shares of Novo Nordisk A/S by 2,655.9% during the 3rd quarter. World Investment Advisors LLC now owns 280,409 shares of the company's stock valued at $33,388,000 after acquiring an additional 270,234 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

NVO stock traded up $4.33 during mid-day trading on Friday, hitting $88.07. The company had a trading volume of 15,117,993 shares, compared to its average volume of 9,263,626. The company has a 50-day moving average price of $86.01 and a 200 day moving average price of $108.22. Novo Nordisk A/S has a 12-month low of $77.82 and a 12-month high of $148.15. The company has a market capitalization of $395.19 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 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, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. 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 dividend payout ratio (DPR) is 47.72%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of recent analyst reports. BNP Paribas upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating on the stock. UBS Group upgraded Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.