Alaethes Wealth LLC Acquires 336 Shares of Novo Nordisk A/S (NYSE:NVO)

Alaethes Wealth LLC increased its holdings in Novo Nordisk A/S (NYSE:NVO) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,293 shares of the company’s stock after purchasing an additional 336 shares during the period. Novo Nordisk A/S makes up about 1.4% of Alaethes Wealth LLC’s investment portfolio, making the stock its 13th largest position. Alaethes Wealth LLC’s holdings in Novo Nordisk A/S were worth $3,468,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. GQG Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares during the period. Capital International Investors lifted its position in Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after buying an additional 1,297,536 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of Novo Nordisk A/S by 2,456.0% in the 1st quarter. Norden Group LLC now owns 658,856 shares of the company’s stock worth $84,597,000 after acquiring an additional 633,079 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their price objective on 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. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Down 5.5 %

Shares of Novo Nordisk A/S stock opened at $127.51 on Friday. 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 company has a market cap of $572.21 billion, a P/E ratio of 43.97, a PEG ratio of 1.48 and a beta of 0.42. The firm’s 50 day moving average price is $133.13 and its 200-day moving average price is $133.20. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15.

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 firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.11 EPS 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. Shareholders of record on Friday, August 16th were paid a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.