FSM Wealth Advisors LLC Sells 698 Shares of Novo Nordisk A/S $NVO

FSM Wealth Advisors LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,973 shares of the company’s stock after selling 698 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $345,000 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. Roman Butler Fullerton & Co. purchased a new stake in shares of Novo Nordisk A/S in the second quarter worth about $277,000. Cornerstone Advisory LLC grew its stake in Novo Nordisk A/S by 19.6% during the second quarter. Cornerstone Advisory LLC now owns 3,640 shares of the company’s stock valued at $251,000 after acquiring an additional 596 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in Novo Nordisk A/S by 14.1% during the 2nd quarter. Principle Wealth Partners LLC now owns 7,595 shares of the company’s stock worth $524,000 after acquiring an additional 941 shares during the period. Clifford Swan Investment Counsel LLC lifted its stake in Novo Nordisk A/S by 44.3% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 273,715 shares of the company’s stock worth $18,892,000 after purchasing an additional 84,043 shares in the last quarter. Finally, Freedom Investment Management Inc. lifted its stake in Novo Nordisk A/S by 8.4% in the 2nd quarter. Freedom Investment Management Inc. now owns 22,557 shares of the company’s stock worth $1,557,000 after purchasing an additional 1,753 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 Novo Nordisk A/S stock opened at $53.24 on Friday. The firm has a market capitalization of $237.70 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.43 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $115.26. The business’s 50-day moving average price is $56.55 and its 200-day moving average price is $62.45.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 22.53%.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. HSBC set a $70.00 target price on Novo Nordisk A/S in a research note on Wednesday, October 1st. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $76.00.

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.