Parallel Advisors LLC Sells 3,268 Shares of Novo Nordisk A/S (NYSE:NVO)

Parallel Advisors LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 48,119 shares of the company’s stock after selling 3,268 shares during the quarter. Parallel Advisors LLC’s holdings in Novo Nordisk A/S were worth $4,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVO. Aljian Capital Management LLC bought a new position in Novo Nordisk A/S in the third quarter worth approximately $531,000. Cassaday & Co Wealth Management LLC bought a new position in Novo Nordisk A/S in the third quarter worth approximately $235,000. Semus Wealth Partners LLC bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $420,000. Nixon Peabody Trust Co. bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $247,000. Finally, Baron Wealth Management LLC boosted its position in Novo Nordisk A/S by 18.8% during the 3rd quarter. Baron Wealth Management LLC now owns 3,224 shares of the company’s stock valued at $384,000 after acquiring an additional 510 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVO. BMO Capital Markets dropped their target price on 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. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. 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. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $80.26 on Tuesday. Novo Nordisk A/S has a 12 month low of $73.80 and a 12 month high of $148.15. The stock has a fifty day moving average price of $83.85 and a 200-day moving average price of $102.39. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market cap of $360.15 billion, a PE ratio of 24.39, a P/E/G ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS 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%. Equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal 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 $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 yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

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.