Whittier Trust Co. Acquires 1,115 Shares of Novo Nordisk A/S (NYSE:NVO)

Whittier Trust Co. increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,796 shares of the company’s stock after acquiring an additional 1,115 shares during the quarter. Whittier Trust Co.’s holdings in Novo Nordisk A/S were worth $5,453,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S in the first quarter worth $26,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter worth $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $117.33 on Tuesday. The stock has a market cap of $526.52 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. 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 stock has a fifty day moving average of $128.23 and a 200-day moving average of $131.67.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly 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 during 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 research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current 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 given a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 24.83%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.50.

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.