Avidian Wealth Enterprises LLC Sells 209 Shares of Novo Nordisk A/S (NYSE:NVO)

Avidian Wealth Enterprises LLC trimmed its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,794 shares of the company’s stock after selling 209 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Novo Nordisk A/S were worth $842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Great Lakes Retirement Inc. raised its stake 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 valued at $763,000 after acquiring an additional 575 shares during the last quarter. Kentucky Trust Co bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $495,000. Beacon Financial Group raised its stake in shares of Novo Nordisk A/S by 7.8% during the fourth quarter. Beacon Financial Group now owns 2,707 shares of the company’s stock valued at $233,000 after acquiring an additional 195 shares during the last quarter. Warther Private Wealth LLC raised its stake in shares of Novo Nordisk A/S by 14.2% during the fourth quarter. Warther Private Wealth LLC now owns 12,021 shares of the company’s stock valued at $1,034,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its stake in shares of Novo Nordisk A/S by 13.6% during the fourth quarter. Leavell Investment Management Inc. now owns 3,968 shares of the company’s stock valued at $341,000 after acquiring an additional 475 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $81.78 on Thursday. Novo Nordisk A/S has a fifty-two week low of $78.17 and a fifty-two week high of $148.15. The company has a 50 day simple moving average of $90.45 and a two-hundred day simple moving average of $110.60. The company has a market capitalization of $366.99 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 0.96 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS 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%. Analysts expect that Novo Nordisk A/S will post 3.86 EPS for the current fiscal 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 issued a dividend of $0.7874 per share. This is a boost 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 21.88%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Wednesday. They issued an “equal weight” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.