CIBC Private Wealth Group LLC Sells 13,733 Shares of Novo Nordisk A/S (NYSE:NVO)

CIBC Private Wealth Group LLC lessened its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 23.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,879 shares of the company’s stock after selling 13,733 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Novo Nordisk A/S were worth $3,758,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NVO. RWA Wealth Partners LLC grew its stake in Novo Nordisk A/S by 48.8% in the 4th quarter. RWA Wealth Partners LLC now owns 90,823 shares of the company’s stock valued at $7,813,000 after buying an additional 29,787 shares in the last quarter. Intrust Bank NA grew its position in shares of Novo Nordisk A/S by 3.3% in the fourth quarter. Intrust Bank NA now owns 8,717 shares of the company’s stock valued at $750,000 after purchasing an additional 281 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Novo Nordisk A/S by 60.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 60,121 shares of the company’s stock valued at $5,172,000 after purchasing an additional 22,754 shares during the period. Horizon Investment Services LLC lifted its holdings in Novo Nordisk A/S by 26.0% during the 4th quarter. Horizon Investment Services LLC now owns 3,699 shares of the company’s stock worth $318,000 after purchasing an additional 764 shares in the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in Novo Nordisk A/S by 10.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 297,996 shares of the company’s stock worth $25,634,000 after purchasing an additional 28,331 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. BMO Capital Markets reduced 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 research report on Monday, December 23rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

NVO opened at $68.20 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $306.05 billion, a P/E ratio of 20.73, a PEG ratio of 0.90 and a beta of 0.42. The stock has a 50-day moving average price of $81.64 and a 200-day moving average price of $97.47. Novo Nordisk A/S has a 12-month low of $66.88 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 47.72%.

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.