Fayez Sarofim & Co. decreased its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,111,391 shares of the company’s stock after selling 173,561 shares during the quarter. Novo Nordisk A/S comprises approximately 1.2% of Fayez Sarofim & Co.’s investment portfolio, making the stock its 26th largest holding. Fayez Sarofim & Co. owned about 0.26% of Novo Nordisk A/S worth $219,228,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in NVO. Suntrust Banks Inc. grew its position in shares of Novo Nordisk A/S by 25.1% during the 1st quarter. Suntrust Banks Inc. now owns 21,451 shares of the company’s stock worth $733,000 after buying an additional 4,306 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 18.0% in the 1st quarter. TD Asset Management Inc. now owns 43,013 shares of the company’s stock worth $1,474,000 after purchasing an additional 6,552 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth $226,000. Nichols & Pratt Advisers LLP MA lifted its holdings in shares of Novo Nordisk A/S by 51.4% in the 1st quarter. Nichols & Pratt Advisers LLP MA now owns 213,260 shares of the company’s stock worth $7,312,000 after purchasing an additional 72,436 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth $416,000. 6.01% of the stock is owned by institutional investors.
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Shares of Novo Nordisk A/S (NYSE:NVO) traded down 0.95% during trading on Friday, hitting $48.19. The company had a trading volume of 2,037,890 shares. The firm has a market capitalization of $119.52 billion, a P/E ratio of 19.47 and a beta of 0.60. The company’s 50 day moving average is $45.61 and its 200 day moving average is $40.85. Novo Nordisk A/S has a 1-year low of $30.89 and a 1-year high of $48.88.
The company also recently declared an annual dividend, which was paid on Tuesday, August 29th. Investors of record on Monday, August 21st were paid a $0.336 dividend. This represents a yield of 1.07%. This is a boost from Novo Nordisk A/S’s previous annual dividend of $0.33. The ex-dividend date of this dividend was Friday, August 18th. Novo Nordisk A/S’s dividend payout ratio is presently 36.44%.
A number of brokerages recently issued reports on NVO. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday. Bank of America Corporation upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, September 6th. Finally, BidaskClub upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Novo Nordisk A/S has a consensus rating of “Hold” and an average price target of $56.00.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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