Kingsview Wealth Management LLC Has $425,000 Position in Novo Nordisk A/S (NYSE:NVO)

Kingsview Wealth Management LLC reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 76.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,943 shares of the company’s stock after selling 16,449 shares during the period. Kingsview Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Rosenberg Matthew Hamilton boosted its position in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after acquiring an additional 94 shares in the last quarter. Spinnaker Trust boosted its position in shares of Novo Nordisk A/S by 1.1% during the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares in the last quarter. Marco Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after acquiring an additional 100 shares in the last quarter. Carr Financial Group Corp boosted its position in shares of Novo Nordisk A/S by 5.1% during the 3rd quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after acquiring an additional 101 shares in the last quarter. Finally, Menard Financial Group LLC boosted its position in shares of Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after acquiring an additional 102 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Down 3.7 %

Shares of NYSE NVO opened at $78.78 on Friday. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15. The company has a market cap of $353.52 billion, a PE ratio of 23.94, a P/E/G ratio of 0.96 and a beta of 0.45. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $89.91 and a two-hundred day moving average of $110.40.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.86 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVO. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday. They set an “equal weight” rating for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.