Novo Nordisk A/S (NYSE:NVO) Shares Bought by IAM Advisory LLC

IAM Advisory LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,845 shares of the company’s stock after purchasing an additional 96 shares during the period. Novo Nordisk A/S accounts for about 0.7% of IAM Advisory LLC’s portfolio, making the stock its 23rd largest position. IAM Advisory LLC’s holdings in Novo Nordisk A/S were worth $2,404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. First PREMIER Bank acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at $25,000. CNB Bank acquired a new stake in Novo Nordisk A/S during the 4th quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $26,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth $30,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVO has been the topic of several recent research reports. BMO Capital Markets lowered their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday, August 5th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Up 4.1 %

NYSE:NVO traded up $5.30 during mid-day trading on Friday, reaching $133.47. The company’s stock had a trading volume of 7,503,650 shares, compared to its average volume of 4,552,021. The company’s fifty day simple moving average is $137.53 and its two-hundred day simple moving average is $130.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The stock has a market cap of $598.95 billion, a P/E ratio of 46.02, a P/E/G ratio of 1.33 and a beta of 0.41.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 45.52%.

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.