Novo Nordisk A/S (NYSE:NVO) Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 128,035 shares of the company’s stock after selling 1,805 shares during the period. Novo Nordisk A/S comprises approximately 4.9% of Shikiar Asset Management Inc.’s holdings, making the stock its 4th biggest position. Shikiar Asset Management Inc.’s holdings in Novo Nordisk A/S were worth $18,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Perigon Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 65.1% in the fourth quarter. Perigon Wealth Management LLC now owns 12,165 shares of the company’s stock worth $1,259,000 after acquiring an additional 4,798 shares during the last quarter. Graypoint LLC boosted its position in shares of Novo Nordisk A/S by 9.8% during the 4th quarter. Graypoint LLC now owns 3,842 shares of the company’s stock valued at $397,000 after acquiring an additional 342 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in Novo Nordisk A/S by 14.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 2,702 shares of the company’s stock worth $280,000 after acquiring an additional 338 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Novo Nordisk A/S by 2.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,551 shares of the company’s stock worth $1,195,000 after purchasing an additional 315 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 3.0% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 206,352 shares of the company’s stock worth $21,347,000 after acquiring an additional 6,040 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $0.85 during trading on Wednesday, hitting $134.42. The company had a trading volume of 1,963,396 shares, compared to its average volume of 4,523,816. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The stock has a market capitalization of $603.21 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $137.29 and its two-hundred day moving average is $130.46.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 25.52%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Argus boosted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $145.17.

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.