Armstrong Advisory Group Inc. Sells 587 Shares of Novo Nordisk A/S (NYSE:NVO)

Armstrong Advisory Group Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 57.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441 shares of the company’s stock after selling 587 shares during the period. Armstrong Advisory Group Inc.’s holdings in Novo Nordisk A/S were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its position in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Down 0.2 %

Shares of NVO opened at $119.77 on Tuesday. Novo Nordisk A/S has a 52 week low of $92.94 and a 52 week high of $148.15. The stock has a market capitalization of $537.47 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a fifty day moving average of $129.26 and a 200-day moving average of $131.98.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 24.83%.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets cut their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.