Novo Nordisk A/S (NYSE:NVO) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,658 shares of the company’s stock after selling 10,691 shares during the period. M&T Bank Corp’s holdings in Novo Nordisk A/S were worth $32,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NVO. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S in the third quarter valued at approximately $28,000. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Novo Nordisk A/S in the third quarter valued at approximately $42,000. Dunhill Financial LLC lifted its holdings in Novo Nordisk A/S by 196.8% in the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after acquiring an additional 311 shares during the last quarter. Finally, Albion Financial Group UT lifted its holdings in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring an additional 278 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 3.8 %

Novo Nordisk A/S stock opened at $90.81 on Thursday. Novo Nordisk A/S has a twelve month low of $77.82 and a twelve month high of $148.15. The stock’s fifty day simple moving average is $84.91 and its 200-day simple moving average is $105.74. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $407.51 billion, a P/E ratio of 27.60, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. 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. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Analysts Set New Price Targets

A number of research firms recently commented on NVO. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Three investment 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S 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.