LVW Advisors LLC Trims Stock Position in Novo Nordisk A/S (NYSE:NVO)

LVW Advisors LLC cut its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,244 shares of the company’s stock after selling 1,397 shares during the quarter. LVW Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Freedom Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 20.3% in the 4th quarter. Freedom Investment Management Inc. now owns 28,204 shares of the company’s stock worth $2,918,000 after purchasing an additional 4,753 shares during the period. Franchise Capital Ltd raised its holdings in shares of Novo Nordisk A/S by 90.3% in the 4th quarter. Franchise Capital Ltd now owns 127,638 shares of the company’s stock worth $13,204,000 after purchasing an additional 60,582 shares during the period. Financial Network Wealth Advisors LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth about $333,000. Optimist Retirement Group LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth about $233,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth about $210,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock traded up $2.62 during mid-day trading on Friday, hitting $120.15. 2,100,970 shares of the company’s stock traded hands, compared to its average volume of 4,315,110. The firm has a 50 day moving average price of $129.54 and a 200 day moving average price of $132.06. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $539.18 billion, a PE ratio of 41.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. 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 Thursday. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

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.