Atria Wealth Solutions Inc. Lowers Position in Novo Nordisk A/S $NVO

Atria Wealth Solutions Inc. reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 66.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 12,419 shares of the company’s stock after selling 24,067 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Novo Nordisk A/S were worth $857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. purchased a new stake in Novo Nordisk A/S in the 1st quarter valued at $27,000. Copeland Capital Management LLC raised its position in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the last quarter. Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at $30,000. Disciplina Capital Management LLC grew its stake in Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after purchasing an additional 297 shares during the period. Finally, Spirit of America Management Corp NY bought a new position in Novo Nordisk A/S in the 1st quarter valued at $35,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 3.0%

Shares of NVO opened at $54.41 on Friday. The business has a 50-day moving average of $56.24 and a 200 day moving average of $62.75. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $118.26. The firm has a market cap of $242.93 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 22.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $59.00 to $47.00 in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.00.

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.