Wealth Alliance LLC Decreases Holdings in Novo Nordisk A/S $NVO

Wealth Alliance LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 68.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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 reporting period.

A number of other large investors have also made changes to their positions in NVO. SG Americas Securities LLC boosted its holdings in shares of Novo Nordisk A/S by 2,101.5% in the third quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock worth $132,242,000 after buying an additional 2,274,925 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Novo Nordisk A/S by 101.4% in the 2nd quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after purchasing an additional 1,246,467 shares in the last quarter. DAVENPORT & Co LLC increased its stake in shares of Novo Nordisk A/S by 54.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,642,498 shares of the company’s stock worth $146,644,000 after purchasing an additional 935,468 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in Novo Nordisk A/S by 11.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after purchasing an additional 649,390 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Novo Nordisk A/S by 42.6% during the second quarter. Baird Financial Group Inc. now owns 1,476,673 shares of the company’s stock valued at $101,920,000 after purchasing an additional 441,034 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research note on Thursday, February 12th. Citigroup initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 27th. They issued a “neutral” rating for the company. Morgan Stanley reissued an “underweight” rating and set a $42.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. HSBC reissued a “hold” rating and issued a $54.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. Finally, Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.07.

Novo Nordisk A/S Price Performance

NYSE:NVO opened at $47.43 on Friday. The firm has a market capitalization of $211.77 billion, a price-to-earnings ratio of 13.67 and a beta of 0.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.57. The business has a 50 day simple moving average of $53.77 and a 200-day simple moving average of $53.24. Novo Nordisk A/S has a 1 year low of $43.08 and a 1 year high of $93.80.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share 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 company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Dividend Announcement

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

About Novo Nordisk A/S

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.