Wedmont Private Capital Has $1.31 Million Stake in Novo Nordisk A/S (NYSE:NVO)

Wedmont Private Capital boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,120 shares of the company’s stock after acquiring an additional 809 shares during the period. Wedmont Private Capital’s holdings in Novo Nordisk A/S were worth $1,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisor OS LLC lifted its position in Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the period. Cravens & Co Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares during the period. AA Financial Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NVO shares. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $117.57 on Friday. Novo Nordisk A/S has a 12-month low of $92.94 and a 12-month high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $527.60 billion, a PE ratio of 40.26, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The firm has a 50-day moving average price of $129.84 and a 200 day moving average price of $132.16.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

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.