Bank of New York Mellon Corp Has $68.13 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Bank of New York Mellon Corp reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 791,998 shares of the company’s stock after selling 21,423 shares during the quarter. Bank of New York Mellon Corp’s holdings in Novo Nordisk A/S were worth $68,128,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Spinnaker Trust increased its position in shares of Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares during the last quarter. Marco Investment Management LLC grew its stake in Novo Nordisk A/S by 1.5% in the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after purchasing an additional 100 shares in the last quarter. Carr Financial Group Corp increased its position in shares of Novo Nordisk A/S by 5.1% during the 3rd quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after purchasing an additional 101 shares during the last quarter. Menard Financial Group LLC raised its stake in shares of Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after purchasing an additional 102 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its holdings in shares of Novo Nordisk A/S by 4.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after buying an additional 112 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Down 1.4 %

Shares of NVO opened at $89.42 on Tuesday. The firm has a market cap of $401.28 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15. The firm’s 50-day simple moving average is $84.84 and its 200 day simple moving average is $106.18.

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

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVO. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets lowered their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

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.