AMG National Trust Bank Purchases 3,911 Shares of Novo Nordisk A/S (NYSE:NVO)

AMG National Trust Bank grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 61.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,275 shares of the company’s stock after acquiring an additional 3,911 shares during the quarter. AMG National Trust Bank’s holdings in Novo Nordisk A/S were worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Folketrygdfondet increased its stake in Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after acquiring an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Capital International Investors boosted its stake in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the period. GQG Partners LLC increased its position in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of Novo Nordisk A/S by 1.8% in the fourth quarter. Natixis Advisors L.P. now owns 3,052,406 shares of the company’s stock valued at $315,770,000 after acquiring an additional 55,333 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NVO shares. Argus lifted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, August 19th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 0.1 %

Shares of NYSE:NVO opened at $136.97 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $136.22 and its 200 day moving average is $131.66. The stock has a market cap of $614.66 billion, a P/E ratio of 47.23, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be issued a $0.5126 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 24.83%.

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.