HBK Sorce Advisory LLC Sells 303 Shares of Novo Nordisk A/S $NVO

HBK Sorce Advisory LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,851 shares of the company’s stock after selling 303 shares during the period. HBK Sorce Advisory LLC’s holdings in Novo Nordisk A/S were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NVO. Revolve Wealth Partners LLC raised its position in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after purchasing an additional 200 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Novo Nordisk A/S by 369.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 97,847 shares of the company’s stock valued at $6,657,000 after purchasing an additional 76,994 shares in the last quarter. Mather Group LLC. raised its position in Novo Nordisk A/S by 6.2% during the first quarter. Mather Group LLC. now owns 5,933 shares of the company’s stock valued at $412,000 after purchasing an additional 345 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Novo Nordisk A/S by 15.3% during the first quarter. Resonant Capital Advisors LLC now owns 7,842 shares of the company’s stock valued at $554,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in Novo Nordisk A/S by 34.1% during the first quarter. Mutual Advisors LLC now owns 37,849 shares of the company’s stock valued at $2,628,000 after purchasing an additional 9,622 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 1.3%

Shares of NYSE:NVO opened at $49.40 on Friday. 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 has a 52-week low of $45.05 and a 52-week high of $113.02. The company has a market capitalization of $220.58 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company has a fifty day moving average of $56.17 and a 200-day moving average of $61.94.

Novo Nordisk A/S (NYSE:NVO) last issued 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 net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. On average, 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid 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 payout ratio is currently 22.53%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $55.00 price target (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.00.

Novo Nordisk A/S Company 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.