J.W. Cole Advisors Inc. Raises Stock Position in Novo Nordisk A/S (NYSE:NVO)

J.W. Cole Advisors Inc. grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 57.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,553 shares of the company’s stock after acquiring an additional 5,322 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Novo Nordisk A/S were worth $2,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Folketrygdfondet lifted its stake in shares of Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after purchasing an additional 124,770 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the period. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% during the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Novo Nordisk A/S by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after acquiring an additional 58,935 shares during the period. Finally, GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock opened at $137.00 on Friday. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The business has a 50-day moving average price of $134.03 and a 200 day moving average price of $132.94. The company has a market capitalization of $614.79 billion, a P/E ratio of 47.24, a PEG ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets dropped their price objective 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. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target 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.