ASB Consultores LLC Reduces Stake in Novo Nordisk A/S (NYSE:NVO)

ASB Consultores LLC lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,614 shares of the company’s stock after selling 417 shares during the quarter. ASB Consultores LLC’s holdings in Novo Nordisk A/S were worth $373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NVO. Aveo Capital Partners LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $205,000. 9258 Wealth Management LLC lifted its stake in shares of Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock valued at $260,000 after purchasing an additional 97 shares during the period. Rollins Financial lifted its stake in shares of Novo Nordisk A/S by 10.4% in the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after purchasing an additional 368 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after purchasing an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC purchased a new position in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $237,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 2.2 %

Novo Nordisk A/S stock opened at $134.90 on Friday. The firm has a market cap of $605.37 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 1.48 and a beta of 0.42. The stock has a fifty day simple moving average of $133.43 and a two-hundred day simple moving average of $133.20. Novo Nordisk A/S has a 12 month low of $86.96 and a 12 month high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results 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%. Equities analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $145.17.

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.