Truist Financial Corp Has $61.77 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Truist Financial Corp grew its stake in Novo Nordisk A/S (NYSE:NVO) by 1.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 597,059 shares of the company’s stock after buying an additional 9,450 shares during the quarter. Truist Financial Corp’s holdings in Novo Nordisk A/S were worth $61,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Callan Capital LLC lifted its position in shares of Novo Nordisk A/S by 260.8% in the fourth quarter. Callan Capital LLC now owns 21,259 shares of the company’s stock worth $2,199,000 after buying an additional 15,366 shares during the last quarter. Herold Advisors Inc. lifted its position in shares of Novo Nordisk A/S by 108.3% in the fourth quarter. Herold Advisors Inc. now owns 5,000 shares of the company’s stock worth $517,000 after buying an additional 2,600 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 36.3% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 10,023 shares of the company’s stock worth $1,037,000 after buying an additional 2,672 shares during the last quarter. Syon Capital LLC lifted its position in shares of Novo Nordisk A/S by 19.9% in the fourth quarter. Syon Capital LLC now owns 27,809 shares of the company’s stock worth $2,877,000 after buying an additional 4,612 shares during the last quarter. Finally, Meritage Portfolio Management lifted its position in shares of Novo Nordisk A/S by 6.9% in the fourth quarter. Meritage Portfolio Management now owns 249,059 shares of the company’s stock worth $25,765,000 after buying an additional 16,159 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.8 %

Shares of NVO opened at $126.85 on Friday. Novo Nordisk A/S has a 12-month low of $75.56 and a 12-month high of $138.28. 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 has a market capitalization of $569.24 billion, a price-to-earnings ratio of 46.89, a P/E/G ratio of 2.12 and a beta of 0.41. The stock’s 50-day moving average price is $126.86 and its 200 day moving average price is $112.11.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVO. UBS Group initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.60.

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.