Fayez Sarofim & Co. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,877,658 shares of the company’s stock after selling 190,386 shares during the period. Novo Nordisk A/S accounts for about 1.3% of Fayez Sarofim & Co.’s investment portfolio, making the stock its 23rd largest position. Fayez Sarofim & Co.’s holdings in Novo Nordisk A/S were worth $244,198,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in Novo Nordisk A/S during the second quarter valued at about $2,618,000. Penobscot Investment Management Company Inc. raised its stake in Novo Nordisk A/S by 7.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 33,320 shares of the company’s stock valued at $1,792,000 after buying an additional 2,400 shares in the last quarter. Saratoga Research & Investment Management raised its stake in Novo Nordisk A/S by 5.8% in the second quarter. Saratoga Research & Investment Management now owns 797,432 shares of the company’s stock valued at $42,886,000 after buying an additional 43,556 shares in the last quarter. Bank of Hawaii raised its stake in Novo Nordisk A/S by 31.1% in the second quarter. Bank of Hawaii now owns 19,630 shares of the company’s stock valued at $1,056,000 after buying an additional 4,660 shares in the last quarter. Finally, BTC Capital Management Inc. raised its stake in Novo Nordisk A/S by 7.8% in the second quarter. BTC Capital Management Inc. now owns 12,909 shares of the company’s stock valued at $696,000 after buying an additional 929 shares in the last quarter. Hedge funds and other institutional investors own 6.65% of the company’s stock.
Novo Nordisk A/S (NYSE:NVO) opened at 34.59 on Tuesday. Novo Nordisk A/S has a 12-month low of $30.89 and a 12-month high of $57.81. The firm’s 50-day moving average is $35.38 and its 200-day moving average is $39.66. The stock has a market capitalization of $86.91 billion, a P/E ratio of 16.01 and a beta of 0.83.
The firm also recently announced an annual dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 27th will be paid a dividend of $0.6634 per share. This represents a yield of 1.99%. The ex-dividend date is Thursday, March 23rd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 46.19%.
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Several analysts recently issued reports on NVO shares. Bank of America Corporation downgraded shares of Novo Nordisk A/S from a “neutral” rating to an “underperform” rating in a research report on Friday, October 28th. Citigroup Inc. downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday, October 31st. DNB Markets downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research report on Monday, November 14th. Finally, TheStreet downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.
About Novo Nordisk A/S
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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