Moran Wealth Management LLC Has $32.06 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Moran Wealth Management LLC lowered its stake in Novo Nordisk A/S (NYSE:NVO) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 372,693 shares of the company’s stock after selling 56,942 shares during the quarter. Novo Nordisk A/S accounts for approximately 1.0% of Moran Wealth Management LLC’s portfolio, making the stock its 15th largest position. Moran Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $32,059,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the period. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the third quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in Novo Nordisk A/S in the third quarter valued at approximately $42,000. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares during the period. Finally, Sound Income Strategies LLC increased its stake in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $87.19 on Monday. The company has a market capitalization of $391.25 billion, a P/E ratio of 26.50, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm’s 50 day simple moving average is $84.91 and its two-hundred day simple moving average is $104.86. Novo Nordisk A/S has a 1-year low of $77.82 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is 47.72%.

About Novo Nordisk A/S

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.