Pinnacle Financial Partners Inc Has $3.86 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,861 shares of the company’s stock after selling 21,912 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Novo Nordisk A/S were worth $3,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVO. Center for Financial Planning Inc. lifted its holdings in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $42,000. Albion Financial Group UT lifted its holdings in shares of Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after buying an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $88.07 on Friday. Novo Nordisk A/S has a 12-month low of $77.82 and a 12-month high of $148.15. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $86.01 and its two-hundred day moving average price is $108.07. The stock has a market cap of $395.19 billion, a PE ratio of 26.77, a P/E/G ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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, 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 firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets decreased 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. Finally, 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average 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.