Wallace Advisory Group LLC Sells 222 Shares of Novo Nordisk A/S (NYSE:NVO)

Wallace Advisory Group LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,711 shares of the company’s stock after selling 222 shares during the quarter. Novo Nordisk A/S comprises about 0.9% of Wallace Advisory Group LLC’s holdings, making the stock its 25th biggest position. Wallace Advisory Group LLC’s holdings in Novo Nordisk A/S were worth $1,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the 2nd quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 0.0 %

NYSE NVO traded up $0.04 on Friday, reaching $115.12. 6,310,401 shares of the stock traded hands, compared to its average volume of 4,338,705. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company has a fifty day moving average price of $130.59 and a 200-day moving average price of $132.41. The company has a market cap of $516.60 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.35 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $87.02 and a 12 month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.