Allspring Global Investments Holdings LLC Lowers Position in Novo Nordisk A/S $NVO

Allspring Global Investments Holdings LLC lessened its position in Novo Nordisk A/S (NYSE:NVO) by 3.4% in the second quarter, HoldingsChannel reports. The firm owned 94,552 shares of the company’s stock after selling 3,295 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Novo Nordisk A/S were worth $6,602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Novo Nordisk A/S by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after purchasing an additional 576,900 shares during the period. Sustainable Growth Advisers LP lifted its stake in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after purchasing an additional 202,443 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at approximately $370,272,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, Morgan Stanley lowered 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 report 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $76.00.

Novo Nordisk A/S Stock Down 3.0%

Novo Nordisk A/S stock opened at $54.41 on Monday. The firm has a market cap of $242.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.50 and a beta of 0.68. The stock has a fifty day simple moving average of $56.24 and a two-hundred day simple moving average of $62.69. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $118.26. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

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.