Segment Wealth Management LLC Sells 812 Shares of Novo Nordisk A/S (NYSE:NVO)

Segment Wealth Management LLC cut its holdings in Novo Nordisk A/S (NYSE:NVO) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,877 shares of the company’s stock after selling 812 shares during the period. Novo Nordisk A/S accounts for 1.2% of Segment Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. Segment Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $17,608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NVO. GQG Partners LLC boosted its holdings in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares during the period. DSM Capital Partners LLC lifted its stake in Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 1,300.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Novo Nordisk A/S by 34,472.1% in the 2nd quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after purchasing an additional 689,441 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $116.46 on Wednesday. The firm’s fifty day moving average price is $127.89 and its 200-day moving average price is $131.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market cap of $522.62 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week 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 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on NVO shares. 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, October 10th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.50.

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.