Steel Grove Capital Advisors LLC Sells 108 Shares of Novo Nordisk A/S (NYSE:NVO)

Steel Grove Capital Advisors LLC cut its stake in Novo Nordisk A/S (NYSE:NVO) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,504 shares of the company’s stock after selling 108 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of NVO. Chilton Capital Management LLC raised its holdings in Novo Nordisk A/S by 0.6% during the 2nd quarter. Chilton Capital Management LLC now owns 10,063 shares of the company’s stock worth $1,628,000 after purchasing an additional 63 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in Novo Nordisk A/S by 3.5% in the fourth quarter. IHT Wealth Management LLC now owns 2,369 shares of the company’s stock valued at $321,000 after buying an additional 80 shares during the period. Hancock Whitney Corp boosted its position in Novo Nordisk A/S by 4.1% during the first quarter. Hancock Whitney Corp now owns 2,342 shares of the company’s stock valued at $373,000 after acquiring an additional 92 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Novo Nordisk A/S by 9.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,060 shares of the company’s stock worth $169,000 after acquiring an additional 93 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Novo Nordisk A/S by 3.5% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 2,960 shares of the company’s stock valued at $306,000 after purchasing an additional 100 shares during the period. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVO. UBS Group initiated coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating for the company. TD Cowen raised their price target on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, March 20th. 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, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $126.25.

Novo Nordisk A/S Stock Up 0.5 %

NVO stock traded up $0.60 during mid-day trading on Thursday, reaching $128.65. 2,919,455 shares of the company traded hands, compared to its average volume of 5,220,022. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average price is $121.34 and its 200 day moving average price is $104.22. The stock has a market cap of $577.32 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 2.13 and a beta of 0.41. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The business had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.35 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be issued a dividend of $0.664 per share. The ex-dividend date is Friday, March 22nd. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S’s payout ratio is 49.17%.

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.