Novo Nordisk A/S (NYSE:NVO) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Novo Nordisk A/S (NYSE:NVO) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,726 shares of the company’s stock after selling 5,726 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Novo Nordisk A/S were worth $10,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVO. Center for Financial Planning Inc. lifted its stake in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Albion Financial Group UT boosted its holdings in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the period. Sound Income Strategies LLC boosted its holdings in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the period. Finally, Hager Investment Management Services LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $46,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 1.8 %

Shares of NVO stock opened at $77.22 on Monday. The stock has a 50-day simple moving average of $83.95 and a 200 day simple moving average of $102.79. Novo Nordisk A/S has a fifty-two week low of $73.80 and a fifty-two week high of $148.15. The stock has a market capitalization of $346.54 billion, a P/E ratio of 23.47, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last announced 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 return on equity of 84.68% and a net margin of 34.81%. On average, sell-side 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 business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a $0.7874 dividend. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.