SouthState Corp Has $4.24 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

SouthState Corp reduced its position in Novo Nordisk A/S (NYSE:NVO) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,251 shares of the company’s stock after selling 1,474 shares during the period. SouthState Corp’s holdings in Novo Nordisk A/S were worth $4,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norman Fields Gottscho Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 45.3% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after purchasing an additional 19,870 shares during the period. Bryn Mawr Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 358.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after purchasing an additional 30,420 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $86,000. Talbot Financial LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $4,066,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $450,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVO shares. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock opened at $77.22 on Monday. The firm has a market cap of $346.54 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The stock’s 50-day moving average is $83.95 and its 200-day moving average is $102.79. Novo Nordisk A/S has a one year low of $73.80 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last issued 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%. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared 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. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 47.72%.

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.