Novo Nordisk A/S (NVO) Shares Sold by Comerica Bank
Comerica Bank reduced its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,105 shares of the company’s stock after selling 3,923 shares during the quarter. Comerica Bank’s holdings in Novo Nordisk A/S were worth $10,686,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation boosted its stake in shares of Novo Nordisk A/S by 677.1% during the 3rd quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock valued at $137,000 after buying an additional 2,485 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Novo Nordisk A/S by 84.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,564 shares of the company’s stock valued at $175,000 after buying an additional 2,086 shares during the last quarter. Addenda Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $201,000. Charter Trust Co. purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $201,000. Finally, Lakeview Capital Partners LLC purchased a new position in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $204,000. Institutional investors own 6.19% of the company’s stock.
Several brokerages recently issued reports on NVO. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Friday, January 26th. JPMorgan Chase & Co. upgraded Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research note on Friday, December 29th. Deutsche Bank restated a “buy” rating on shares of Novo Nordisk A/S in a research note on Monday, January 8th. Bank of America upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, Morgan Stanley upgraded Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $64.00.
Novo Nordisk A/S declared that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a special dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 26th will be paid a dividend of $0.8117 per share. This represents a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 23rd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 32.03%.
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About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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