Hobbs Group Advisors LLC Cuts Position in Novo Nordisk A/S (NYSE:NVO)

Hobbs Group Advisors LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 23.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,526 shares of the company’s stock after selling 2,968 shares during the period. Hobbs Group Advisors LLC’s holdings in Novo Nordisk A/S were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. raised its stake in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $28,000. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after acquiring an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in Novo Nordisk A/S in the fourth quarter worth about $46,000. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NVO has been the subject of several analyst reports. 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. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Down 1.1 %

NVO stock opened at $69.36 on Friday. Novo Nordisk A/S has a 12 month low of $69.18 and a 12 month high of $148.15. The firm’s 50-day moving average is $82.33 and its 200 day moving average is $99.11. The company has a market capitalization of $311.23 billion, a PE ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping 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, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. 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. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

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.