Allspring Global Investments Holdings LLC Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

Allspring Global Investments Holdings LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 95.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,853 shares of the company’s stock after selling 406,932 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Novo Nordisk A/S were worth $1,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marks Group Wealth Management Inc raised its position in Novo Nordisk A/S by 1.6% during the fourth quarter. Marks Group Wealth Management Inc now owns 19,186 shares of the company’s stock worth $1,650,000 after acquiring an additional 308 shares during the period. Great Lakes Retirement Inc. raised its position in shares of Novo Nordisk A/S by 6.9% during the 4th quarter. Great Lakes Retirement Inc. now owns 8,871 shares of the company’s stock worth $763,000 after purchasing an additional 575 shares during the last quarter. Kentucky Trust Co purchased a new position in Novo Nordisk A/S in the 4th quarter valued at about $495,000. Beacon Financial Group boosted its holdings in Novo Nordisk A/S by 7.8% in the 4th quarter. Beacon Financial Group now owns 2,707 shares of the company’s stock worth $233,000 after buying an additional 195 shares during the last quarter. Finally, Warther Private Wealth LLC increased its stake in Novo Nordisk A/S by 14.2% during the 4th quarter. Warther Private Wealth LLC now owns 12,021 shares of the company’s stock worth $1,034,000 after buying an additional 1,497 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, 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. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Up 5.2 %

Shares of NVO stock opened at $88.07 on Friday. Novo Nordisk A/S has a twelve month low of $77.82 and a twelve month high of $148.15. The stock has a market cap of $395.19 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 0.90 and a beta of 0.45. The company’s 50-day moving average price is $86.01 and its 200-day moving average price is $108.07. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 21.88%.

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.