Main Street Research LLC Sells 8,516 Shares of Novo Nordisk A/S (NYSE:NVO)

Main Street Research LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 466,846 shares of the company’s stock after selling 8,516 shares during the quarter. Novo Nordisk A/S accounts for 3.9% of Main Street Research LLC’s investment portfolio, making the stock its 4th largest holding. Main Street Research LLC’s holdings in Novo Nordisk A/S were worth $48,295,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NVO. Westside Investment Management Inc. raised its position in shares of Novo Nordisk A/S by 83.3% during the third quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock worth $130,000 after purchasing an additional 649 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in Novo Nordisk A/S during the third quarter worth $2,408,000. Lazard Asset Management LLC grew its holdings in Novo Nordisk A/S by 182.2% during the third quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after buying an additional 964,640 shares in the last quarter. Benedict Financial Advisors Inc. grew its holdings in Novo Nordisk A/S by 94.0% during the third quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after buying an additional 21,457 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Novo Nordisk A/S by 111.6% during the third quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock worth $546,000 after buying an additional 3,166 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO stock traded down $0.08 on Tuesday, hitting $123.82. 2,141,987 shares of the stock were exchanged, compared to its average volume of 4,921,070. The firm’s 50 day moving average is $126.04 and its two-hundred day moving average is $110.09. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The firm has a market capitalization of $555.65 billion, a PE ratio of 45.68, a P/E/G ratio of 2.07 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Sell-side analysts expect that Novo Nordisk A/S will post 3.33 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were paid a $0.664 dividend. 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 was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 49.17%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, April 1st. BMO Capital Markets began coverage on Novo Nordisk A/S in a research note on Friday. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.