Martin Investment Management LLC Cuts Stake in Novo Nordisk A/S (NYSE:NVO)

Martin Investment Management LLC decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,163 shares of the company’s stock after selling 10,256 shares during the period. Novo Nordisk A/S makes up about 6.7% of Martin Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Martin Investment Management LLC’s holdings in Novo Nordisk A/S were worth $24,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Center for Financial Planning Inc. raised its stake in shares of 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 valued at $25,000 after purchasing an additional 123 shares during the period. Dunhill Financial LLC lifted its stake in Novo Nordisk A/S by 196.8% in the 3rd quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after acquiring an additional 311 shares in the last quarter. Albion Financial Group UT boosted its position in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $46,000. Finally, Sound Income Strategies LLC raised its holdings 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 purchasing an additional 243 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 2.1 %

NVO opened at $68.00 on Wednesday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $81.89 and its 200 day simple moving average is $97.68. Novo Nordisk A/S has a 1-year low of $66.81 and a 1-year high of $148.15. The stock has a market cap of $305.16 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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%. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed 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 represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is currently 47.72%.

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.