Pittenger & Anderson Inc. Sells 12,713 Shares of Novo Nordisk A/S (NYSE:NVO)

Pittenger & Anderson Inc. lowered its holdings in Novo Nordisk A/S (NYSE:NVO) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,115 shares of the company’s stock after selling 12,713 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Novo Nordisk A/S were worth $7,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacific Center for Financial Services boosted its position in Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Copeland Capital Management LLC grew its stake in Novo Nordisk A/S by 100.0% in the third quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Novo Nordisk A/S by 79.9% in the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. CNB Bank purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at about $26,000. Finally, Citizens National Bank Trust Department boosted its holdings in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

NYSE:NVO traded up $1.87 during midday trading on Friday, hitting $127.66. The company’s stock had a trading volume of 2,210,764 shares, compared to its average volume of 4,783,673. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. Novo Nordisk A/S has a fifty-two week low of $75.56 and a fifty-two week high of $138.28. The firm’s 50 day moving average is $126.80 and its 200-day moving average is $111.74. The firm has a market cap of $572.88 billion, a P/E ratio of 47.01, a P/E/G ratio of 2.11 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The firm had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were issued a $0.664 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s payout ratio is 49.17%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of analyst reports. Morgan Stanley assumed 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 for the company. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S 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.