Smith Chas P & Associates Pa Cpas 13F: Cuts NVO Stake by $37M

Smith Chas P & Associates Pa Cpas slashed its holdings in Novo Nordisk A/S (NYSE: NVO) by 99.3% during the quarter, according to a Form 13F filed with the SEC on October 22, 2026. The firm parted ways with 943,699 shares of the Danish drug maker, leaving it with just 6,452 shares valued at about $250,531.

NVO Novo Nordisk A

$39.56 ▼ -20.72% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Smith Chas P & Associates Pa Cpas's Novo Nordisk Position

The institutional investor aggressively trimmed its exposure to the healthcare giant. Prior to the filing, the firm held 950,151 shares. By cutting 943,699 shares, the fund reduced its stake by 99.32% to finish the period with 6,452 shares worth $250,531.

Other Institutional Activity in Novo Nordisk

Carnegie Investment Counsel grew its holdings by 48,696 shares, ending with 121,560 shares worth about $4,608,341. Generate Investment Management sold out entirely, cutting 350,000 shares to end with zero. Dodge & Cox Inc. added 1,063,356 shares for a 5.5% increase, holding 20,397,110 shares worth $806,911,722. LOOMIS SAYLES & CO L P lifted its position by 1,577,465 shares, a 9.3% bump to 18,594,352 shares valued at $735,594,434. Franklin Resources, Inc. reduced its stake by 3,043,140 shares, a 18.9% cut leaving it with 13,041,109 shares worth $515,907,583.

Novo Nordisk A Stock Up 0.4%

Novo Nordisk shares recently traded around $39.51 as of October 22, 2026, down about 0.4% from the prior close of $39.66 on the filing date. The stock has faced downward pressure, trading below both its 50-day moving average of $42.20 and its 200-day moving average of $44.86. The shares sit 38.4% below their 52-week high of $64.16 and 12.5% above their 52-week low of $35.12, while trading 12.7% below the average analyst price target.

Recent Earnings

The company is scheduled to report its next financial results on November 4, 2026.

Dividend

Novo Nordisk pays an annual dividend rate of $1.80 per share, giving it a dividend yield of 4.6% alongside a payout ratio of 45.1%.

Analysts Set New Price Targets

On September 11, 2026, Morgan Stanley downgraded the stock to an Underweight rating with a price target of $40.00. Later, on October 12, 2026, BMO Capital maintained a Market Perform rating while adjusting its price target from $47.00 to $40.00. Overall, the stock carries a hold consensus recommendation from 12 analysts, with a mean price target of $45.26.

About Novo Nordisk

Headquartered in Bagsvaerd, Denmark, Novo Nordisk A/S researches, develops, and manufactures pharmaceutical products globally. The company operates through two core segments focusing on obesity, diabetes care, cardiovascular treatments, and rare diseases.

Bottom Line

Investors will look to the upcoming earnings release on November 4, 2026, for fresh insights into the company's financial health. Regulatory filings will continue to show how institutional investors manage their positions in the healthcare sector.