Novo Nordisk A/S (NYSE:NVO) Shares Sold by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,273 shares of the company’s stock after selling 179 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $325,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. AE Wealth Management LLC raised its holdings in shares of Novo Nordisk A/S by 161.5% in the 2nd quarter. AE Wealth Management LLC now owns 19,319 shares of the company’s stock worth $2,758,000 after purchasing an additional 11,930 shares during the period. King Luther Capital Management Corp increased its position in Novo Nordisk A/S by 11.7% during the 2nd quarter. King Luther Capital Management Corp now owns 28,171 shares of the company’s stock worth $4,021,000 after purchasing an additional 2,960 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $5,628,000. Bridges Investment Management Inc. purchased a new position in Novo Nordisk A/S in the second quarter valued at approximately $1,078,000. Finally, Callan Capital LLC lifted its position in Novo Nordisk A/S by 4.9% during the second quarter. Callan Capital LLC now owns 24,697 shares of the company’s stock valued at $3,525,000 after buying an additional 1,155 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVO. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 5.5 %

NYSE:NVO opened at $127.51 on Friday. The stock has a market cap of $572.21 billion, a price-to-earnings ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The business’s 50-day simple moving average is $133.13 and its 200 day simple moving average is $133.20.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

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.