Cannon Advisors Inc. Sells 671 Shares of Novo Nordisk A/S (NYSE:NVO)

Cannon Advisors Inc. lowered its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,739 shares of the company’s stock after selling 671 shares during the quarter. Cannon Advisors Inc.’s holdings in Novo Nordisk A/S were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NVO. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $28,000. Center for Financial Planning Inc. increased its stake in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after acquiring an additional 123 shares during the last quarter. Dunhill Financial LLC raised its position in Novo Nordisk A/S by 196.8% during the third quarter. Dunhill Financial LLC now owns 469 shares of the company’s stock valued at $56,000 after purchasing an additional 311 shares during the period. Albion Financial Group UT lifted its stake in shares of Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter worth approximately $46,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 0.4 %

NYSE NVO opened at $69.58 on Tuesday. The stock has a market cap of $312.24 billion, a PE ratio of 21.15, a PEG ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $66.88 and a 12 month high of $148.15. The company’s 50-day moving average price is $82.15 and its 200-day moving average price is $98.17. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

Analyst Ratings Changes

NVO has been the topic of several recent research reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $145.25.

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.