B. Riley Wealth Advisors Inc. increased its holdings in Novo Nordisk A/S (NYSE:NVO – Get Rating) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,297 shares of the company’s stock after acquiring an additional 4,457 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Novo Nordisk A/S were worth $2,422,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in Novo Nordisk A/S by 3.9% during the third quarter. Jennison Associates LLC now owns 10,930,506 shares of the company’s stock valued at $1,089,006,000 after buying an additional 413,285 shares during the period. Fayez Sarofim & Co lifted its position in Novo Nordisk A/S by 9.4% during the third quarter. Fayez Sarofim & Co now owns 5,218,104 shares of the company’s stock valued at $519,878,000 after buying an additional 450,280 shares during the period. BlackRock Inc. lifted its position in Novo Nordisk A/S by 45.4% during the first quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock valued at $559,235,000 after buying an additional 1,571,747 shares during the period. Folketrygdfondet lifted its position in Novo Nordisk A/S by 2.9% during the third quarter. Folketrygdfondet now owns 4,262,659 shares of the company’s stock valued at $424,689,000 after buying an additional 119,781 shares during the period. Finally, WCM Investment Management LLC lifted its position in Novo Nordisk A/S by 35.1% during the second quarter. WCM Investment Management LLC now owns 3,850,053 shares of the company’s stock valued at $423,814,000 after buying an additional 999,342 shares during the period. Hedge funds and other institutional investors own 6.09% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on NVO. Cowen raised their price objective on Novo Nordisk A/S from $130.00 to $145.00 in a research report on Monday, December 12th. Cowen raised their price target on Novo Nordisk A/S from $130.00 to $145.00 in a report on Monday, December 12th. JPMorgan Chase & Co. raised their price target on Novo Nordisk A/S from 925.00 to 1,100.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, StockNews.com began coverage on Novo Nordisk A/S in a report on Thursday. They set a “strong-buy” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $697.78.
Novo Nordisk A/S Trading Up 0.4 %
Novo Nordisk A/S Increases Dividend
The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Monday, March 27th will be paid a dividend of $1.1887 per share. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.58. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, March 24th. Novo Nordisk A/S’s payout ratio is currently 23.34%.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company, which engages in the the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Biopharm segments. The Diabetes and Obesity Care segment includes insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD), obesity, and other serious chronic diseases.
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