Pinnacle Financial Partners Inc Sells 21,912 Shares of Novo Nordisk A/S (NYSE:NVO)

Pinnacle Financial Partners Inc reduced its position in shares of Novo Nordisk A/S (NYSE:NVO) by 32.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,861 shares of the company’s stock after selling 21,912 shares during the period. Pinnacle Financial Partners Inc’s holdings in Novo Nordisk A/S were worth $3,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 1.0% during the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after purchasing an additional 40,475 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. DSM Capital Partners LLC lifted its stake in shares of Novo Nordisk A/S by 16.7% in the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock worth $172,678,000 after acquiring an additional 286,912 shares during the period. LPL Financial LLC lifted its stake in shares of Novo Nordisk A/S by 3.6% in the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after acquiring an additional 47,496 shares during the period. Finally, DAVENPORT & Co LLC lifted its stake in shares of Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after acquiring an additional 451,641 shares during the period. 11.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $88.07 on Friday. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The business’s 50 day moving average price is $86.01 and its two-hundred day moving average price is $108.07. The firm has a market cap of $395.19 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 21.88%.

Novo Nordisk A/S Profile

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.