Brighton Jones LLC Has $2.08 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Brighton Jones LLC grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 62.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,570 shares of the company’s stock after purchasing an additional 5,625 shares during the period. Brighton Jones LLC’s holdings in Novo Nordisk A/S were worth $2,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVO. Aveo Capital Partners LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $205,000. 9258 Wealth Management LLC lifted its holdings in shares of Novo Nordisk A/S by 4.0% during the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after acquiring an additional 97 shares during the period. Rollins Financial lifted its holdings in shares of Novo Nordisk A/S by 10.4% during the 4th quarter. Rollins Financial now owns 3,894 shares of the company’s stock worth $403,000 after acquiring an additional 368 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares during the period. Finally, Gryphon Financial Partners LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $237,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Finally, Argus increased 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Shares of NYSE:NVO opened at $127.51 on Friday. The firm has a 50 day simple moving average of $133.13 and a 200 day simple moving average of $133.20. The company has a market cap of $572.21 billion, a price-to-earnings ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last released 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). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Research analysts predict that Novo Nordisk A/S will post 3.11 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. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.83%.

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.