HWG Holdings LP Trims Position in Novo Nordisk A/S (NYSE:NVO)

HWG Holdings LP reduced its holdings in Novo Nordisk A/S (NYSE:NVO) by 60.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,166 shares of the company’s stock after selling 79,438 shares during the period. Novo Nordisk A/S comprises 2.1% of HWG Holdings LP’s holdings, making the stock its 13th biggest position. HWG Holdings LP’s holdings in Novo Nordisk A/S were worth $6,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wealthcare Advisory Partners LLC boosted its stake in shares of Novo Nordisk A/S by 38.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 14,253 shares of the company’s stock worth $1,830,000 after buying an additional 3,990 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Novo Nordisk A/S by 91.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock valued at $26,412,000 after acquiring an additional 98,007 shares during the period. 180 Wealth Advisors LLC boosted its position in Novo Nordisk A/S by 3.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,549 shares of the company’s stock worth $841,000 after purchasing an additional 223 shares in the last quarter. Capital Asset Advisory Services LLC grew its stake in shares of Novo Nordisk A/S by 59.6% during the 1st quarter. Capital Asset Advisory Services LLC now owns 3,402 shares of the company’s stock worth $428,000 after purchasing an additional 1,271 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 14.1% during the 1st quarter. Kathmere Capital Management LLC now owns 20,764 shares of the company’s stock valued at $2,666,000 after purchasing an additional 2,560 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $113.91 on Friday. 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 market capitalization of $511.17 billion, a PE ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a fifty-two week low of $92.94 and a fifty-two week high of $148.15. The company has a fifty day moving average of $127.52 and a two-hundred day moving average of $131.50.

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

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. 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 (DPR) is presently 24.66%.

Analyst Upgrades and Downgrades

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

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.