Abel Hall LLC Has $428,000 Holdings in Novo Nordisk A/S $NVO

Abel Hall LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 23.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,205 shares of the company’s stock after buying an additional 1,184 shares during the period. Abel Hall LLC’s holdings in Novo Nordisk A/S were worth $428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Hawaiian Bank raised its holdings in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after buying an additional 142 shares during the period. Anchor Investment Management LLC raised its holdings in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after buying an additional 150 shares during the period. Xponance Inc. raised its holdings in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after buying an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC raised its holdings in Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after buying an additional 166 shares during the period. Finally, PFG Investments LLC raised its holdings in Novo Nordisk A/S by 1.0% during the 1st quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock worth $1,257,000 after buying an additional 178 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVO. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Novo Nordisk A/S in a report on Saturday, September 27th. HSBC set a $70.00 target price on Novo Nordisk A/S in a report on Wednesday, October 1st. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

Novo Nordisk A/S Trading Down 0.9%

Shares of NYSE NVO opened at $59.10 on Wednesday. The stock has a market cap of $263.90 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.66 and a beta of 0.68. The business has a 50 day simple moving average of $54.84 and a 200 day simple moving average of $63.48. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is presently 22.53%.

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.