Equitable Trust Co. Decreases Holdings in Novo Nordisk A/S (NYSE:NVO)

Equitable Trust Co. trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,631 shares of the company’s stock after selling 2,339 shares during the period. Equitable Trust Co.’s holdings in Novo Nordisk A/S were worth $7,108,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Novare Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after buying an additional 94 shares in the last quarter. Spinnaker Trust raised its holdings in shares of Novo Nordisk A/S by 1.1% during the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after buying an additional 100 shares in the last quarter. Marco Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after buying an additional 100 shares in the last quarter. Finally, Carr Financial Group Corp raised its holdings in shares of Novo Nordisk A/S by 5.1% during the 3rd quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after buying an additional 101 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO stock opened at $86.39 on Monday. The firm has a market cap of $387.66 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The business’s 50 day moving average price is $91.46 and its 200-day moving average price is $111.36. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last issued 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%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors 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 is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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 Wednesday, November 6th. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $145.25.

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.