Commonwealth Equity Services LLC cut its holdings in Novo Nordisk A/S by 49.9% during the third quarter, according to its latest 13F filing with the SEC. The firm sold 237,049 shares, leaving it with 237,978 shares valued at approximately $13.2 million at period end. This divestiture marks one of the largest single-quarter reductions among reporting institutional investors and may signal a strategic reallocation of capital away from diabetes and obesity therapeutics.

Several boutique investment firms increased or initiated positions in Novo Nordisk during the same period. True Wealth Design LLC expanded its stake by 209.8%, adding 300 shares to reach 443 shares. NewSquare Capital LLC boosted its holding by 174.1%, acquiring 282 shares for a total of 444. Mid American Wealth Advisory Group Inc. and Maseco LLP each opened new positions valued at roughly $37,000 and $39,000 respectively, while Copeland Capital Management LLC raised its position by 47.3% to 579 shares. Collectively, hedge funds and other institutional investors now own 11.54% of the company’s outstanding stock.

In its latest quarterly report, Novo Nordisk delivered adjusted earnings of $1.02 per share, beating consensus estimates by $0.25, while generating revenue of $11.79 billion, narrowly below analyst projections of $11.98 billion. The company reported a net margin of 32.8% and a return on equity of 73.5%. MarketBeat data shows a consensus analyst rating of “Hold” with an average price target of $56.21, reflecting balanced views on growth prospects in GLP-1 therapies versus pricing pressures in major markets.