Wallace Advisory Group LLC Sells 222 Shares of Novo Nordisk A/S (NYSE:NVO)

Wallace Advisory Group LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,711 shares of the company’s stock after selling 222 shares during the quarter. Novo Nordisk A/S makes up 0.9% of Wallace Advisory Group LLC’s portfolio, making the stock its 25th biggest position. Wallace Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $1,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New Hampshire grew its stake in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the period. Cim LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $23,547,000. Burford Brothers Inc. purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $1,045,000. Mark Asset Management LP purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth $1,035,000. Finally, Fox Hill Wealth Management grew its stake in shares of Novo Nordisk A/S by 121.3% in the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after acquiring an additional 15,525 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock traded up $0.04 during trading on Friday, reaching $115.12. The stock had a trading volume of 6,310,401 shares, compared to its average volume of 4,338,705. Novo Nordisk A/S has a 52 week low of $87.02 and a 52 week high of $148.15. The stock’s 50 day moving average is $130.59 and its two-hundred day moving average is $132.41. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market cap of $516.60 billion, a PE ratio of 39.69, a PEG ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $145.17.

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.