Summit Financial Wealth Advisors LLC Trims Stake in Novo Nordisk A/S (NYSE:NVO)

Summit Financial Wealth Advisors LLC lessened its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,220 shares of the company’s stock after selling 330 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares during the period. Albion Financial Group UT lifted its stake in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares in the last quarter. Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth $46,000. Sound Income Strategies LLC raised its holdings in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares during the period. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $47,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO traded down $3.34 on Thursday, reaching $61.75. The company’s stock had a trading volume of 2,437,181 shares, compared to its average volume of 5,729,184. The company has a market cap of $277.11 billion, a P/E ratio of 18.77, a PEG ratio of 0.90 and a beta of 0.61. Novo Nordisk A/S has a 52-week low of $59.52 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a 50-day simple moving average of $78.66 and a 200 day simple moving average of $94.43.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were paid a dividend of $0.7874 per share. The ex-dividend date was Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 49.54%.

Wall Street Analyst Weigh In

NVO has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price 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.