J.W. Cole Advisors Inc. Purchases New Stake in Novo Nordisk A/S (NYSE:NVO)

J.W. Cole Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVOGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 70,054 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Trust purchased a new position in Novo Nordisk A/S during the 1st quarter valued at $414,000. Peachtree Investment Partners LLC increased its position in Novo Nordisk A/S by 36.0% during the 1st quarter. Peachtree Investment Partners LLC now owns 2,720 shares of the company’s stock valued at $302,000 after purchasing an additional 720 shares during the period. Vise Technologies Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter valued at $410,000. Bank of America Corp DE increased its position in Novo Nordisk A/S by 1.7% during the 1st quarter. Bank of America Corp DE now owns 7,440,609 shares of the company’s stock valued at $826,280,000 after purchasing an additional 126,438 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Novo Nordisk A/S by 7.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 8,927 shares of the company’s stock valued at $994,000 after purchasing an additional 604 shares during the period. 6.62% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $98.31 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 0.94. The company has a market capitalization of $222.47 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.77 and a beta of 0.47. The company’s 50-day moving average is $107.60 and its 200 day moving average is $109.28. Novo Nordisk A/S has a one year low of $91.51 and a one year high of $122.16.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Monday, August 15th were paid a dividend of $0.5836 per share. This represents a yield of 1.1%. The ex-dividend date was Friday, August 12th. Novo Nordisk A/S’s dividend payout ratio is currently 24.18%.

Wall Street Analyst Weigh In

NVO has been the topic of a number of research analyst reports. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price objective on the stock in a research report on Monday, June 27th. UBS Group downgraded shares of Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a research report on Tuesday, June 28th. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from a “neutral” rating to an “overweight” rating in a research report on Tuesday, June 7th. Guggenheim raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 31st. Finally, Exane BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 target price on the stock in a research report on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $682.43.

Novo Nordisk A/S Company Profile

(Get Rating)

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

Further Reading

Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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