Carolinas Wealth Consulting LLC Grows Holdings in Novo Nordisk A/S (NYSE:NVO)

Carolinas Wealth Consulting LLC grew its stake in Novo Nordisk A/S (NYSE:NVO) by 1,808.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,107 shares of the company’s stock after buying an additional 1,049 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Novo Nordisk A/S were worth $158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVO. Aveo Capital Partners LLC purchased a new position in Novo Nordisk A/S in the 4th quarter worth approximately $205,000. 9258 Wealth Management LLC grew its stake in Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after buying an additional 97 shares in the last quarter. Rollins Financial grew its stake in Novo Nordisk A/S by 10.4% in the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after buying an additional 368 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares in the last quarter. Finally, Gryphon Financial Partners LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at $237,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 0.1 %

NYSE:NVO opened at $132.09 on Thursday. The company has a fifty day moving average of $133.52 and a 200 day moving average of $133.19. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week 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 $592.76 billion, a P/E ratio of 45.55, a P/E/G ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NVO shares. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Company 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.