Wealth Alliance Buys 245 Shares of Novo Nordisk A/S (NYSE:NVO)

Wealth Alliance lifted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.2% in the 2nd quarter, Holdings Channel reports. The fund owned 11,563 shares of the company’s stock after acquiring an additional 245 shares during the quarter. Wealth Alliance’s holdings in Novo Nordisk A/S were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First PREMIER Bank bought a new position in Novo Nordisk A/S in the first quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the first quarter valued at $26,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NYSE NVO opened at $132.00 on Wednesday. The firm has a 50-day moving average of $133.74 and a 200-day moving average of $133.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market cap of $592.35 billion, a PE ratio of 45.52, a P/E/G ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. Finally, Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price 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.