Werba Rubin Papier Wealth Management Trims Position in Novo Nordisk A/S (NYSE:NVO)

Werba Rubin Papier Wealth Management cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,570 shares of the company’s stock after selling 893 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Novo Nordisk A/S were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New Century Financial Group LLC increased its holdings in shares of Novo Nordisk A/S by 12.9% during the 3rd quarter. New Century Financial Group LLC now owns 1,954 shares of the company’s stock valued at $233,000 after purchasing an additional 224 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 12.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 3,671 shares of the company’s stock valued at $437,000 after purchasing an additional 418 shares in the last quarter. OLD National Bancorp IN increased its holdings in shares of Novo Nordisk A/S by 30.5% during the 3rd quarter. OLD National Bancorp IN now owns 4,399 shares of the company’s stock valued at $524,000 after purchasing an additional 1,027 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Novo Nordisk A/S by 30.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 427,785 shares of the company’s stock valued at $50,936,000 after purchasing an additional 99,945 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Whittier Trust Co. now owns 45,796 shares of the company’s stock valued at $5,453,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 5.9 %

NYSE NVO opened at $82.44 on Wednesday. The firm’s 50-day moving average is $87.45 and its two-hundred day moving average is $108.84. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a market capitalization of $369.97 billion, a P/E ratio of 25.06, a PEG ratio of 0.84 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVO. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price target on shares of 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Company 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.