Ascent Group LLC Increases Holdings in Novo Nordisk A/S $NVO

Key Points

• Ascent Group LLC increased its holdings in Novo Nordisk A/S by 30.6% in Q1, now owning 26,532 shares worth approximately $1.84 million.
• Novo Nordisk A/S reported $0.97 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $11.69 billion.
• The company's dividend yield is currently 240.0%, following the announcement of a semi-annual dividend of $0.4119 per share.

Ascent Group LLC grew its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 30.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,532 shares of the company's stock after buying an additional 6,218 shares during the period. Ascent Group LLC's holdings in Novo Nordisk A/S were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVO. Copeland Capital Management LLC raised its stake in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $30,000. Finally, Disciplina Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 162.3% in the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock worth $33,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 1.7%

Novo Nordisk A/S stock opened at $54.30 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $138.22. The company's fifty day simple moving average is $59.16 and its 200-day simple moving average is $67.16. The stock has a market cap of $242.45 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.10 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were given a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is presently 22.53%.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of analyst reports. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. UBS Group lowered Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 5th. BNP Paribas Exane upgraded Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $81.00.

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.

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