Institute for Wealth Management LLC. Boosts Stock Position in Novo Nordisk A/S (NYSE:NVO)

Institute for Wealth Management LLC. lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,668 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Novo Nordisk A/S were worth $1,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC purchased a new position in Novo Nordisk A/S during the second quarter worth $29,000. Tower Research Capital LLC TRC boosted its stake in Novo Nordisk A/S by 165.3% during the first quarter. Tower Research Capital LLC TRC now owns 199 shares of the company’s stock worth $32,000 after buying an additional 124 shares during the period. Pacific Center for Financial Services boosted its stake in Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Valued Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $28,000. Finally, Copeland Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 100.0% during the third quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 141 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday. UBS Group began coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. BMO Capital Markets began coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Performance

NVO stock opened at $122.70 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The business has a 50-day moving average price of $126.39 and a 200 day moving average price of $110.72. The company has a market capitalization of $550.62 billion, a P/E ratio of 45.36, a PEG ratio of 2.05 and a beta of 0.41. Novo Nordisk A/S has a 1-year low of $75.56 and a 1-year high of $138.28.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were issued a $0.664 dividend. The ex-dividend date was Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S’s payout ratio is currently 49.17%.

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.