State Farm Mutual Automobile Insurance Co. continued to hold its stake in Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,619,014 shares of the company’s stock at the close of the 2nd quarter. State Farm Mutual Automobile Insurance Co. owned 0.24% of Novo Nordisk A/S worth $198,111,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in NVO. Bank of Montreal Can raised its holdings in shares of Novo Nordisk A/S by 64.7% in the 1st quarter. Bank of Montreal Can now owns 65,178 shares of the company’s stock valued at $2,234,000 after purchasing an additional 25,611 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Novo Nordisk A/S by 12.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 28,165 shares of the company’s stock valued at $965,000 after purchasing an additional 3,119 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Novo Nordisk A/S by 2.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,589,607 shares of the company’s stock valued at $54,492,000 after purchasing an additional 33,377 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $127,000. Finally, First Trust Advisors LP raised its holdings in shares of Novo Nordisk A/S by 34.8% in the 1st quarter. First Trust Advisors LP now owns 573,661 shares of the company’s stock valued at $19,665,000 after purchasing an additional 148,079 shares in the last quarter. Institutional investors and hedge funds own 6.01% of the company’s stock.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday. Bank of America Corporation upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, September 6th. Finally, BidaskClub raised shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.00.
Novo Nordisk A/S (NVO) opened at 49.22 on Friday. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $49.45. The company has a 50 day moving average of $45.97 and a 200-day moving average of $41.13. The stock has a market capitalization of $122.08 billion, a P/E ratio of 19.89 and a beta of 0.60.
The firm also recently announced an annual dividend, which was paid on Tuesday, August 29th. Shareholders of record on Monday, August 21st were issued a dividend of $0.336 per share. This represents a dividend yield of 1.07%. This is a boost from Novo Nordisk A/S’s previous annual dividend of $0.33. The ex-dividend date of this dividend was Friday, August 18th. Novo Nordisk A/S’s dividend payout ratio is 36.44%.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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