Blue Trust Inc. Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Blue Trust Inc. lifted its position in Novo Nordisk A/S (NYSE:NVO) by 181.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,104 shares of the company’s stock after purchasing an additional 10,381 shares during the quarter. Blue Trust Inc.’s holdings in Novo Nordisk A/S were worth $2,299,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GQG Partners LLC grew its holdings in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. Capital International Investors grew its stake in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after buying an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in Novo Nordisk A/S by 2,456.0% during the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock valued at $84,597,000 after acquiring an additional 633,079 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Down 1.6 %

Shares of NYSE:NVO traded down $2.16 on Friday, hitting $134.89. The company had a trading volume of 2,111,269 shares, compared to its average volume of 4,498,375. The firm’s 50-day simple moving average is $136.90 and its two-hundred day simple moving average is $130.72. The firm has a market capitalization of $605.32 billion, a price-to-earnings ratio of 46.51, a P/E/G ratio of 1.33 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be given a dividend of $0.5126 per share. The ex-dividend date is Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is 25.52%.

Analyst Ratings Changes

A number of equities analysts have commented on NVO shares. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 5th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Argus boosted their price objective on shares of 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.