Global Trust Asset Management LLC Trims Holdings in Novo Nordisk A/S (NYSE:NVO)

Global Trust Asset Management LLC reduced its position in Novo Nordisk A/S (NYSE:NVO) by 0.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,554 shares of the company’s stock after selling 173 shares during the quarter. Novo Nordisk A/S comprises about 1.2% of Global Trust Asset Management LLC’s holdings, making the stock its 16th largest position. Global Trust Asset Management LLC’s holdings in Novo Nordisk A/S were worth $3,162,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealthcare Advisory Partners LLC grew its stake in shares of Novo Nordisk A/S by 38.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,253 shares of the company’s stock worth $1,830,000 after purchasing an additional 3,990 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Novo Nordisk A/S by 91.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock worth $26,412,000 after buying an additional 98,007 shares in the last quarter. 180 Wealth Advisors LLC boosted its position in shares of Novo Nordisk A/S by 3.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,549 shares of the company’s stock worth $841,000 after buying an additional 223 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in shares of Novo Nordisk A/S by 59.6% in the 1st quarter. Capital Asset Advisory Services LLC now owns 3,402 shares of the company’s stock worth $428,000 after buying an additional 1,271 shares in the last quarter. Finally, Kathmere Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 14.1% in the 1st quarter. Kathmere Capital Management LLC now owns 20,764 shares of the company’s stock worth $2,666,000 after buying an additional 2,560 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

NVO stock opened at $113.94 on Friday. The company has a market capitalization of $511.31 billion, a P/E ratio of 39.02, a PEG ratio of 1.52 and a beta of 0.42. The company has a 50-day simple moving average of $127.52 and a 200 day simple moving average of $131.50. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

NVO has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S 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.