Advisors Capital Management LLC Sells 848 Shares of Novo Nordisk A/S $NVO

Advisors Capital Management LLC lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,064 shares of the company’s stock after selling 848 shares during the quarter. Advisors Capital Management LLC’s holdings in Novo Nordisk A/S were worth $560,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at $29,000. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter worth about $27,000. Copeland Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter worth approximately $30,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Novo Nordisk A/S in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.2%

Shares of NYSE:NVO opened at $54.94 on Friday. The stock has a market capitalization of $245.31 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock’s 50-day simple moving average is $57.96 and its two-hundred day simple moving average is $66.33. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $138.22.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to analysts’ expectations of $77.51 billion. Analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $81.00.

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.