TFC Financial Management Inc. Lowers Stake in Novo Nordisk A/S (NYSE:NVO)

TFC Financial Management Inc. lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,751 shares of the company’s stock after selling 129 shares during the quarter. TFC Financial Management Inc.’s holdings in Novo Nordisk A/S were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Novo Nordisk A/S in the third quarter worth about $98,765,000. DAVENPORT & Co LLC lifted its stake in Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after acquiring an additional 451,641 shares during the period. Wellington Management Group LLP bought a new position in Novo Nordisk A/S in the third quarter worth about $42,017,000. Finally, World Investment Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2,655.9% during the third quarter. World Investment Advisors LLC now owns 280,409 shares of the company’s stock valued at $33,388,000 after acquiring an additional 270,234 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $81.78 on Thursday. The company’s fifty day moving average is $90.45 and its two-hundred day moving average is $110.60. The firm has a market capitalization of $366.99 billion, a P/E ratio of 24.86, a PEG ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a one year low of $78.17 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared 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%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is 21.88%.

Analyst Ratings Changes

Several equities research analysts have commented on NVO shares. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BMO Capital Markets decreased their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday. They issued an “equal weight” rating for the company. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

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.