Atria Wealth Solutions Inc. Sells 24,067 Shares of Novo Nordisk A/S $NVO

Atria Wealth Solutions Inc. lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 66.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,419 shares of the company’s stock after selling 24,067 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Novo Nordisk A/S were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after purchasing an additional 10,001,898 shares during the period. Folketrygdfondet increased its position in Novo Nordisk A/S by 6.9% during the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock valued at $661,202,000 after purchasing an additional 617,974 shares during the period. Goldman Sachs Group Inc. increased its position in Novo Nordisk A/S by 11.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,692,554 shares of the company’s stock valued at $395,291,000 after purchasing an additional 576,900 shares during the period. Sustainable Growth Advisers LP increased its position in Novo Nordisk A/S by 3.8% during the 1st quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company’s stock valued at $384,923,000 after purchasing an additional 202,443 shares during the period. Finally, Nuveen LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter valued at approximately $370,272,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $54.41 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $118.26. The stock’s 50 day moving average is $56.24 and its 200-day moving average is $62.75. The firm has a market capitalization of $242.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.58 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 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 Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio is presently 22.53%.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent analyst reports. Zacks Research raised shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Profile

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.