Trust Co. of Vermont Sells 582 Shares of Novo Nordisk A/S (NYSE:NVO)

Trust Co. of Vermont reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,025 shares of the company’s stock after selling 582 shares during the quarter. Trust Co. of Vermont’s holdings in Novo Nordisk A/S were worth $3,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky boosted its position in shares of Novo Nordisk A/S by 192.7% in the 3rd quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after purchasing an additional 7,565 shares in the last quarter. Fox Hill Wealth Management raised its holdings in Novo Nordisk A/S by 121.3% in the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after acquiring an additional 15,525 shares during the last quarter. Cetera Investment Advisers raised its holdings in Novo Nordisk A/S by 453.3% in the 1st quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock worth $34,095,000 after acquiring an additional 217,545 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in Novo Nordisk A/S in the 2nd quarter worth approximately $1,624,000. Finally, Salem Investment Counselors Inc. raised its holdings in Novo Nordisk A/S by 528.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 13,460 shares of the company’s stock worth $1,737,000 after acquiring an additional 11,318 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $118.22 on Friday. The firm has a market cap of $530.52 billion, a PE ratio of 40.77, a P/E/G ratio of 1.53 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $128.79 and a two-hundred day simple moving average of $131.72. Novo Nordisk A/S has a 1-year low of $92.94 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

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.