HFG Advisors Inc. Sells 540 Shares of Novo Nordisk A/S (NYSE:NVO)

HFG Advisors Inc. lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,660 shares of the company’s stock after selling 540 shares during the quarter. HFG Advisors Inc.’s holdings in Novo Nordisk A/S were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Folketrygdfondet raised its position in shares of Novo Nordisk A/S by 1.4% in the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock worth $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the last quarter. Capital International Investors grew its holdings in shares of Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Novo Nordisk A/S by 12.1% in the first quarter. Raymond James & Associates now owns 3,143,731 shares of the company’s stock valued at $403,655,000 after purchasing an additional 340,549 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO stock traded up $5.30 during trading hours on Friday, hitting $133.47. 7,503,650 shares of the company’s stock were exchanged, compared to its average volume of 4,552,021. The company has a market capitalization of $598.95 billion, a PE ratio of 46.02, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The business’s 50 day simple moving average is $137.53 and its 200-day simple moving average is $129.94. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 45.52%.

Analyst Ratings Changes

NVO has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 5th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday. Argus lifted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

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.