Cannon Advisors Inc. Sells 671 Shares of Novo Nordisk A/S (NYSE:NVO)

Cannon Advisors Inc. decreased its position in Novo Nordisk A/S (NYSE:NVO) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,739 shares of the company’s stock after selling 671 shares during the quarter. Cannon Advisors Inc.’s holdings in Novo Nordisk A/S were worth $322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Center for Financial Planning Inc. lifted its stake in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Novo Nordisk A/S during the third quarter valued at approximately $28,000. Albion Financial Group UT raised its position in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after acquiring an additional 278 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter worth $46,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Trading Up 0.4 %

NVO stock opened at $69.58 on Tuesday. Novo Nordisk A/S has a 1-year low of $66.88 and a 1-year high of $148.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The company has a market capitalization of $312.24 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 0.90 and a beta of 0.42. The business has a 50 day simple moving average of $82.15 and a two-hundred day simple moving average of $98.17.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 47.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NVO shares. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Finally, BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $145.25.

About Novo Nordisk A/S

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.