Hayek Kallen Investment Management lessened its stake in Novo Nordisk A/S (NYSE:NVO – Free Report) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,560 shares of the company’s stock after selling 1,350 shares during the quarter. Novo Nordisk A/S makes up approximately 2.4% of Hayek Kallen Investment Management’s holdings, making the stock its 10th biggest holding. Hayek Kallen Investment Management’s holdings in Novo Nordisk A/S were worth $6,735,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NVO. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position 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 Price Performance
NVO stock traded down $2.14 during trading on Tuesday, hitting $117.64. The company had a trading volume of 1,893,551 shares, compared to its average volume of 4,303,137. The business has a 50 day moving average of $129.26 and a 200 day moving average of $131.98. The firm has a market capitalization of $527.91 billion, a price-to-earnings ratio of 40.56, a P/E/G ratio of 1.53 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15.
Novo Nordisk A/S Cuts Dividend
The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NVO. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, 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 Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.17.
View Our Latest Stock Report on Novo Nordisk A/S
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.
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