Hobbs Group Advisors LLC Sells 418 Shares of Novo Nordisk A/S (NYSE:NVO)

Hobbs Group Advisors LLC trimmed its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,494 shares of the company’s stock after selling 418 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Finally, Abound Wealth Management boosted its holdings in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock worth $31,000 after acquiring an additional 157 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Down 1.7 %

NYSE:NVO opened at $109.19 on Wednesday. The stock’s fifty day moving average price is $111.15 and its two-hundred day moving average price is $126.90. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $489.99 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 1.41 and a beta of 0.40.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NVO shares. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $150.40.

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.