Channel Wealth LLC Sells 1,873 Shares of Novo Nordisk A/S $NVO

Channel Wealth LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,711 shares of the company’s stock after selling 1,873 shares during the period. Novo Nordisk A/S makes up approximately 1.2% of Channel Wealth LLC’s investment portfolio, making the stock its 23rd biggest holding. Channel Wealth LLC’s holdings in Novo Nordisk A/S were worth $4,397,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after acquiring an additional 1,038,137 shares in the last quarter. North Star Investment Management Corp. raised its stake in shares of Novo Nordisk A/S by 18.2% during the first quarter. North Star Investment Management Corp. now owns 20,742 shares of the company’s stock valued at $1,440,000 after acquiring an additional 3,200 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Novo Nordisk A/S by 10.2% during the first quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock valued at $4,412,000 after acquiring an additional 5,898 shares in the last quarter. Martin Capital Partners LLC raised its stake in shares of Novo Nordisk A/S by 261.5% during the second quarter. Martin Capital Partners LLC now owns 76,448 shares of the company’s stock valued at $5,276,000 after acquiring an additional 55,298 shares in the last quarter. Finally, Cim LLC raised its stake in shares of Novo Nordisk A/S by 4.0% during the first quarter. Cim LLC now owns 220,221 shares of the company’s stock valued at $15,292,000 after acquiring an additional 8,398 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. TD Cowen cut their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 19th. Finally, Zacks Research lowered shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus price target of $81.00.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $57.19 on Wednesday. The firm has a market capitalization of $255.35 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $135.20. The company’s fifty day moving average price is $57.44 and its 200-day moving average price is $65.86.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders 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 payout ratio is 22.53%.

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.