Sanibel Captiva Trust Company Inc. Increases Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Sanibel Captiva Trust Company Inc. raised its position in Novo Nordisk A/S (NYSE:NVO) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,993 shares of the company’s stock after acquiring an additional 547 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Novo Nordisk A/S were worth $1,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Gilliland Jeter Wealth Management LLC increased its position in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter worth $25,000. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S in the first quarter worth $25,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S during the first quarter valued at about $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.5 %

Shares of NVO opened at $117.57 on Friday. The firm has a 50-day moving average price of $129.84 and a 200 day moving average price of $132.16. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $527.60 billion, a P/E ratio of 40.26, a P/E/G ratio of 1.53 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.17.

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.