Jennison Associates LLC Sells 891,633 Shares of Novo Nordisk A/S (NYSE:NVO)

Jennison Associates LLC reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,527,772 shares of the company’s stock after selling 891,633 shares during the period. Novo Nordisk A/S makes up about 1.7% of Jennison Associates LLC’s investment portfolio, making the stock its 17th biggest position. Jennison Associates LLC’s holdings in Novo Nordisk A/S were worth $2,330,498,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 133.2% during the third quarter. International Assets Investment Management LLC now owns 7,837 shares of the company’s stock worth $719,000 after acquiring an additional 4,476 shares during the period. AE Wealth Management LLC raised its stake in Novo Nordisk A/S by 142.8% in the 3rd quarter. AE Wealth Management LLC now owns 26,888 shares of the company’s stock worth $2,445,000 after purchasing an additional 15,812 shares in the last quarter. AdvisorNet Financial Inc raised its position in shares of Novo Nordisk A/S by 54.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,758 shares of the company’s stock valued at $251,000 after buying an additional 973 shares in the last quarter. IFP Advisors Inc raised its position in shares of Novo Nordisk A/S by 61.6% in the 3rd quarter. IFP Advisors Inc now owns 4,244 shares of the company’s stock valued at $386,000 after buying an additional 1,618 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of Novo Nordisk A/S by 99.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,671 shares of the company’s stock valued at $334,000 after purchasing an additional 1,831 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research reports. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. UBS Group began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Trading Up 2.2 %

Shares of Novo Nordisk A/S stock traded up $2.68 on Monday, hitting $125.39. The stock had a trading volume of 1,848,822 shares, compared to its average volume of 4,844,424. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. Novo Nordisk A/S has a one year low of $75.56 and a one year high of $138.28. The stock has a market cap of $562.69 billion, a price-to-earnings ratio of 46.14, a PEG ratio of 2.05 and a beta of 0.41. The stock’s 50-day simple moving average is $126.39 and its two-hundred day simple moving average is $111.03.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were paid a dividend of $0.664 per share. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 49.17%.

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.