Diversify Advisory Services LLC Has $2.34 Million Position in Novo Nordisk A/S (NYSE:NVO)

Diversify Advisory Services LLC cut its position in Novo Nordisk A/S (NYSE:NVO) by 49.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,634 shares of the company’s stock after selling 16,040 shares during the quarter. Diversify Advisory Services LLC’s holdings in Novo Nordisk A/S were worth $2,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares during the last quarter. McKinley Carter Wealth Services Inc. grew its position in Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after acquiring an additional 16,293 shares during the last quarter. Bank of New Hampshire grew its position in shares of Novo Nordisk A/S by 1,356.8% in the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares during the last quarter. Cim LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $23,547,000. Finally, Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $1,045,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 4.1 %

Shares of NYSE:NVO traded up $5.30 during midday trading on Friday, reaching $133.47. The company’s stock had a trading volume of 7,503,650 shares, compared to its average volume of 4,552,021. The firm has a market capitalization of $598.95 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a 50 day moving average price of $137.53 and a two-hundred day moving average price of $129.94. Novo Nordisk A/S has a fifty-two week low of $86.96 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 will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 45.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets reduced their price target 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. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 5th. Two research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.17.

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.