TIAA Trust National Association Increases Stock Position in Novo Nordisk A/S $NVO

TIAA Trust National Association increased its position in Novo Nordisk A/S (NYSE:NVO) by 1,886.3% in the second quarter, Holdings Channel.com reports. The fund owned 227,375 shares of the company’s stock after purchasing an additional 215,928 shares during the period. TIAA Trust National Association’s holdings in Novo Nordisk A/S were worth $15,693,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank raised its holdings in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after acquiring an additional 142 shares during the last quarter. Anchor Investment Management LLC grew its position in Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after purchasing an additional 150 shares during the period. Xponance Inc. grew its position in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after purchasing an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC grew its position in Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after purchasing an additional 166 shares during the period. Finally, Werba Rubin Papier Wealth Management grew its position in Novo Nordisk A/S by 4.1% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock worth $302,000 after purchasing an additional 173 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.3%

Shares of NVO stock opened at $49.40 on Monday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $113.02. The firm has a fifty day moving average price of $56.17 and a 200-day moving average price of $61.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market cap of $220.58 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.33 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Company 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.