Norden Group LLC Has $3.47 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Norden Group LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,321 shares of the company’s stock after selling 5,380 shares during the quarter. Norden Group LLC’s holdings in Novo Nordisk A/S were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter worth $107,000. Smartleaf Asset Management LLC increased its position in Novo Nordisk A/S by 88.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 17,788 shares of the company’s stock worth $1,525,000 after buying an additional 8,351 shares during the last quarter. Tower View Wealth Management LLC increased its position in Novo Nordisk A/S by 5.8% during the fourth quarter. Tower View Wealth Management LLC now owns 25,035 shares of the company’s stock worth $2,154,000 after buying an additional 1,379 shares during the last quarter. Nixon Peabody Trust Co. increased its position in Novo Nordisk A/S by 38.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 2,874 shares of the company’s stock worth $247,000 after buying an additional 800 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $1,250,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.6 %

NVO stock opened at $90.68 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The company has a 50-day moving average of $84.82 and a two-hundred day moving average of $106.72. The stock has a market capitalization of $406.91 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth 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 for the quarter, beating 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%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business 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 $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date 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 dividend payout ratio (DPR) is presently 47.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets lowered their target price 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. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Two equities 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. Based on data from MarketBeat, Novo Nordisk A/S presently 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.