Wealth Alliance LLC Trims Position in Novo Nordisk A/S $NVO

Wealth Alliance LLC reduced its stake in Novo Nordisk A/S (NYSE:NVO) by 68.0% during the third quarter, Holdings Channel.com reports. The fund owned 5,074 shares of the company’s stock after selling 10,770 shares during the quarter. Wealth Alliance LLC’s holdings in Novo Nordisk A/S were worth $282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC grew its stake in Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Guerra Advisors Inc bought a new stake in Novo Nordisk A/S during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $30,000. NewSquare Capital LLC increased its stake in shares of Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after buying an additional 282 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $39,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $47.43 on Friday. The company has a 50 day moving average of $53.77 and a two-hundred day moving average of $53.24. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. Novo Nordisk A/S has a twelve month low of $43.08 and a twelve month high of $93.80. The company has a market cap of $211.77 billion, a price-to-earnings ratio of 13.67 and a beta of 0.67.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%.The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $11.97 billion. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Monday, March 30th will be paid a dividend of $1.2751 per share. The ex-dividend date is Monday, March 30th. This represents a dividend yield of 541.0%. Novo Nordisk A/S’s payout ratio is presently 23.63%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVO. TD Cowen reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 3rd. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a report on Thursday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Novo Nordisk A/S in a research note on Thursday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating and set a $42.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. Finally, Weiss Ratings raised Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Hold” and a consensus target price of $56.07.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.