Wambolt & Associates LLC Acquires 2,489 Shares of Novo Nordisk A/S (NYSE:NVO)

Wambolt & Associates LLC boosted its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,759 shares of the company’s stock after purchasing an additional 2,489 shares during the quarter. Novo Nordisk A/S comprises 1.4% of Wambolt & Associates LLC’s portfolio, making the stock its 15th biggest holding. Wambolt & Associates LLC’s holdings in Novo Nordisk A/S were worth $4,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC boosted its stake in Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. Capital International Investors increased its position in Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC raised its stake in Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after purchasing an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares during the last quarter. Finally, Norden Group LLC grew its stake in shares of Novo Nordisk A/S by 2,456.0% in the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock worth $84,597,000 after buying an additional 633,079 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Stock Up 4.2 %

Shares of NVO opened at $135.17 on Thursday. The firm has a fifty day moving average price of $134.18 and a 200-day moving average price of $132.75. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $606.58 billion, a P/E ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 0.42. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Equities research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on NVO. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. BMO Capital Markets lowered their price target on 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 began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Argus upped their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S 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.