My Legacy Advisors LLC Decreases Stock Position in Novo Nordisk A/S (NYSE:NVO)

My Legacy Advisors LLC trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 15.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,828 shares of the company’s stock after selling 1,209 shares during the period. My Legacy Advisors LLC’s holdings in Novo Nordisk A/S were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its position in shares of Novo Nordisk A/S by 200.0% during 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 purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter worth about $26,000. Finally, Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the first quarter worth approximately $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock traded down $0.97 during trading hours on Tuesday, reaching $116.36. 3,070,987 shares of the company’s stock were exchanged, compared to its average volume of 4,282,817. The business has a fifty day moving average of $128.23 and a two-hundred day moving average of $131.67. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $522.17 billion, a P/E ratio of 40.02, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $9.91 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. 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 currently 24.83%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.50.

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.