Summit X LLC Has $664,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Summit X LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 4.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 7,721 shares of the company’s stock after selling 321 shares during the quarter. Summit X LLC’s holdings in Novo Nordisk A/S were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Center for Financial Planning Inc. increased its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $28,000. Albion Financial Group UT increased its stake in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. Sound Income Strategies LLC increased its stake in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares during the period. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $46,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 1.0 %

Shares of NYSE:NVO opened at $78.14 on Wednesday. The business’s 50 day simple moving average is $84.61 and its two-hundred day simple moving average is $104.04. The firm has a market cap of $350.63 billion, a P/E ratio of 23.75, a PEG ratio of 0.90 and a beta of 0.42. 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 $73.28 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business 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 $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change 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%.

Analysts Set New Price Targets

NVO has been the subject of several recent research reports. BMO Capital Markets decreased their price target on 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. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Three investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.25.

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.