Oakworth Capital Inc. Reduces Holdings in Novo Nordisk A/S (NYSE:NVO)

Oakworth Capital Inc. lowered its position in shares of Novo Nordisk A/S (NYSE:NVO) by 21.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 983 shares of the company’s stock after selling 266 shares during the period. Oakworth Capital Inc.’s holdings in Novo Nordisk A/S were worth $50,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVO. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter worth $49,039,000. Jennison Associates LLC acquired a new position in Novo Nordisk A/S in the first quarter worth $33,951,000. Raymond James & Associates boosted its holdings in Novo Nordisk A/S by 83.8% in the first quarter. Raymond James & Associates now owns 1,174,105 shares of the company’s stock worth $61,418,000 after purchasing an additional 535,302 shares during the period. Sphera Funds Management LTD. acquired a new position in Novo Nordisk A/S in the first quarter worth $20,924,000. Finally, Clearbridge Investments LLC boosted its holdings in Novo Nordisk A/S by 42.3% in the first quarter. Clearbridge Investments LLC now owns 1,160,942 shares of the company’s stock worth $60,729,000 after purchasing an additional 344,989 shares during the period. Institutional investors own 7.07% of the company’s stock.

Novo Nordisk A/S stock traded down $0.55 during midday trading on Monday, hitting $51.11. The company’s stock had a trading volume of 35,297 shares, compared to its average volume of 1,602,867. The company has a quick ratio of 0.66, a current ratio of 1.04 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $49.52 and its 200-day moving average price is $49.57. Novo Nordisk A/S has a 12 month low of $41.23 and a 12 month high of $52.83. The company has a market capitalization of $125.36 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60.

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th will be given a $0.318 dividend. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 44.05%.

A number of research firms have commented on NVO. Barclays raised shares of Novo Nordisk A/S from an “underweight” rating to an “equal weight” rating and set a $51.85 price objective for the company in a report on Tuesday, June 11th. Pareto Securities raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a report on Monday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $355.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, June 19th. Finally, Deutsche Bank downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $52.42 price objective for the company. in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus price target of $111.58.

About Novo Nordisk A/S

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

Read More: Capital Gains

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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