Novo Nordisk A/S (NYSE:NVO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 95.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,853 shares of the company’s stock after selling 406,932 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Novo Nordisk A/S were worth $1,825,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

NVO has been the subject of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. 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 for the company 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. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Up 5.2 %

NVO stock opened at $88.07 on Friday. Novo Nordisk A/S has a fifty-two week low of $77.82 and a fifty-two week high of $148.15. 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 debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm has a market capitalization of $395.19 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

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.