Destination Wealth Management Buys 37,245 Shares of Novo Nordisk A/S (NYSE:NVO)

Destination Wealth Management boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 23.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,143 shares of the company’s stock after buying an additional 37,245 shares during the quarter. Destination Wealth Management’s holdings in Novo Nordisk A/S were worth $16,872,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Concurrent Investment Advisors LLC lifted its holdings in Novo Nordisk A/S by 2.0% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 36,431 shares of the company’s stock valued at $4,338,000 after buying an additional 707 shares in the last quarter. Forte Capital LLC ADV raised its holdings in shares of Novo Nordisk A/S by 492.4% in the 3rd quarter. Forte Capital LLC ADV now owns 65,001 shares of the company’s stock valued at $7,740,000 after purchasing an additional 54,028 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $274,000. Advisor Resource Council bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $247,000. Finally, Ironsides Asset Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 106.8% in the 3rd quarter. Ironsides Asset Advisors LLC now owns 6,758 shares of the company’s stock valued at $805,000 after purchasing an additional 3,490 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.2 %

NVO stock opened at $87.95 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm’s fifty day simple moving average is $84.91 and its 200-day simple moving average is $105.62. Novo Nordisk A/S has a 12 month low of $77.82 and a 12 month high of $148.15. The company has a market capitalization of $394.69 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Analyst Upgrades and Downgrades

NVO has been the topic of several research analyst reports. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Profile

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.