Independent Advisor Alliance Has $8.52 Million Stock Position in Novo Nordisk A/S (NYSE:NVO)

Independent Advisor Alliance grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 71,534 shares of the company’s stock after acquiring an additional 1,385 shares during the quarter. Independent Advisor Alliance’s holdings in Novo Nordisk A/S were worth $8,518,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NVO. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its stake 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 acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth about $28,000. Finally, Halpern Financial Inc. lifted its stake in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $105.06 on Monday. The company has a 50-day simple moving average of $115.48 and a two-hundred day simple moving average of $128.81. Novo Nordisk A/S has a twelve month low of $94.73 and a twelve month high of $148.15. The stock has a market capitalization of $471.46 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

NVO has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Company 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.