NewEdge Wealth LLC Sells 6,769 Shares of Novo Nordisk A/S (NYSE:NVO)

NewEdge Wealth LLC lessened its stake in Novo Nordisk A/S (NYSE:NVO) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

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

Novo Nordisk A/S Stock Up 1.6 %

NVO opened at $90.68 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a market cap of $406.91 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The firm’s fifty day moving average is $84.82 and its 200 day moving average is $106.90. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) 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 net margin of 34.81% and a return on equity of 84.68%. On average, sell-side 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 firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase 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 47.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. BMO Capital Markets dropped their price target on shares of 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. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. 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. Two 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.