Hudock Inc. Sells 727 Shares of Novo Nordisk A/S (NYSE:NVO)

Hudock Inc. trimmed its position in Novo Nordisk A/S (NYSE:NVO) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,565 shares of the company’s stock after selling 727 shares during the quarter. Hudock Inc.’s holdings in Novo Nordisk A/S were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky increased its stake in shares of Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after buying an additional 7,565 shares during the period. Fox Hill Wealth Management grew its holdings in Novo Nordisk A/S by 121.3% in the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after purchasing an additional 15,525 shares during the period. Cetera Investment Advisers increased its stake in shares of Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $1,624,000. Finally, Azzad Asset Management Inc. ADV boosted its position in shares of Novo Nordisk A/S by 55.9% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 41,107 shares of the company’s stock worth $4,895,000 after purchasing an additional 14,731 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several analyst reports. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

Shares of Novo Nordisk A/S stock traded up $0.01 during trading on Friday, hitting $113.93. 879,539 shares of the company’s stock traded hands, compared to its average volume of 4,270,113. Novo Nordisk A/S has a 1 year low of $92.94 and a 1 year high of $148.15. The business has a 50-day simple moving average of $127.52 and a 200-day simple moving average of $131.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $511.26 billion, a P/E ratio of 39.02, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations 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, analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

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.