HB Wealth Management LLC Trims Stock Position in Novo Nordisk A/S $NVO

HB Wealth Management LLC trimmed its stake in Novo Nordisk A/S (NYSE:NVO) by 10.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 30,915 shares of the company’s stock after selling 3,537 shares during the period. HB Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank increased its position in shares of Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after purchasing an additional 142 shares in the last quarter. Anchor Investment Management LLC grew its stake in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after buying an additional 150 shares during the last quarter. Xponance Inc. increased its position in Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its stake in Novo Nordisk A/S by 3.8% in the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares during the last quarter. Finally, Beacon Financial Group boosted its holdings in shares of Novo Nordisk A/S by 6.5% in the first quarter. Beacon Financial Group now owns 2,884 shares of the company’s stock valued at $200,000 after acquiring an additional 177 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 0.7%

Shares of Novo Nordisk A/S stock opened at $58.77 on Friday. The company has a 50-day moving average of $55.16 and a two-hundred day moving average of $63.98. Novo Nordisk A/S has a 12-month low of $45.05 and a 12-month high of $120.56. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market cap of $262.42 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Morgan Stanley downgraded shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $59.00 to $47.00 in a research report on Monday. HSBC set a $70.00 price target on Novo Nordisk A/S in a report on Wednesday. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Finally, Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.50.

About Novo Nordisk A/S

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.