Segment Wealth Management LLC Sells 812 Shares of Novo Nordisk A/S (NYSE:NVO)

Segment Wealth Management LLC lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 147,877 shares of the company’s stock after selling 812 shares during the quarter. Novo Nordisk A/S accounts for about 1.2% of Segment Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Segment Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $17,608,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NVO. RMR Wealth Builders bought a new stake in Novo Nordisk A/S in the 1st quarter worth $302,000. Future Financial Wealth Managment LLC bought a new stake in Novo Nordisk A/S in the 1st quarter worth $128,000. Sunpointe LLC grew its holdings in Novo Nordisk A/S by 5.8% in the 1st quarter. Sunpointe LLC now owns 6,757 shares of the company’s stock worth $874,000 after acquiring an additional 372 shares during the last quarter. DGS Capital Management LLC grew its holdings in Novo Nordisk A/S by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 42,888 shares of the company’s stock worth $5,507,000 after acquiring an additional 1,151 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in Novo Nordisk A/S by 33.7% in the 1st quarter. S.A. Mason LLC now owns 9,628 shares of the company’s stock worth $1,236,000 after acquiring an additional 2,428 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Trading Down 0.7 %

Shares of NVO opened at $116.46 on Wednesday. The firm’s 50-day moving average price is $127.89 and its 200-day moving average price is $131.61. The firm has a market capitalization of $522.62 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.54 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.66%.

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.