AE Wealth Management LLC Buys 11,930 Shares of Novo Nordisk A/S (NYSE:NVO)

AE Wealth Management LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 161.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,319 shares of the company’s stock after purchasing an additional 11,930 shares during the quarter. AE Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,758,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. First PREMIER Bank acquired a new position in Novo Nordisk A/S during the 1st quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the first quarter valued at about $26,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $127.51 on Monday. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $133.13 and a 200 day simple moving average of $133.32. The firm has a market capitalization 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 (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share 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 analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. Sell-side analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Cantor Fitzgerald restated 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. BMO Capital Markets cut their target price 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. Finally, The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $145.17.

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.