Independence Bank of Kentucky Has $1.37 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Independence Bank of Kentucky increased its stake in Novo Nordisk A/S (NYSE:NVO) by 192.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,490 shares of the company’s stock after acquiring an additional 7,565 shares during the quarter. Independence Bank of Kentucky’s holdings in Novo Nordisk A/S were worth $1,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Advisor OS LLC increased its holdings in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares in the last quarter. Cascade Financial Partners LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after acquiring an additional 84 shares in the last quarter. Cravens & Co Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after acquiring an additional 85 shares in the last quarter. AA Financial Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after acquiring an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares in the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Trading Up 2.3 %

NVO traded up $2.75 on Friday, hitting $120.28. 1,088,149 shares of the company were exchanged, compared to its average volume of 4,308,878. The firm has a fifty day simple moving average of $129.54 and a two-hundred day simple moving average of $132.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. Novo Nordisk A/S has a 12 month low of $92.94 and a 12 month high of $148.15. The stock has a market capitalization of $539.76 billion, a PE ratio of 40.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.