Belpointe Asset Management LLC Increases Stock Holdings in Novo Nordisk A/S $NVO

Key Points

• Belpointe Asset Management LLC increased its stake in Novo Nordisk A/S by 96.2% during the first quarter, owning 10,589 shares valued at approximately $735,000.
• Other institutional investors also made significant moves in Novo Nordisk, with companies like Copeland Capital Management LLC and Disciplina Capital Management LLC boosting their holdings by 184.8% and 162.3%, respectively.
• Novo Nordisk's most recent earnings report revealed $0.97 earnings per share, surpassing estimates, amidst a strong return on equity of 78.64% and a net margin of 35.60%.

Belpointe Asset Management LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 96.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,589 shares of the company's stock after acquiring an additional 5,193 shares during the quarter. Belpointe Asset Management LLC's holdings in Novo Nordisk A/S were worth $735,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Copeland Capital Management LLC boosted its holdings 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 period. North Capital Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $27,000. Park Square Financial Group LLC purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $29,000. Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $30,000. Finally, Disciplina Capital Management LLC boosted its holdings in Novo Nordisk A/S by 162.3% during the 1st quarter. Disciplina Capital Management LLC now owns 480 shares of the company's stock valued at $33,000 after acquiring an additional 297 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $54.94 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. Novo Nordisk A/S has a fifty-two week low of $45.05 and a fifty-two week high of $138.22. The firm has a market capitalization of $245.31 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.66. The stock's 50-day simple moving average is $57.96 and its 200-day simple moving average is $66.49.

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

Novo Nordisk A/S Cuts Dividend

The firm 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 of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is 22.53%.

Wall Street Analyst Weigh In

NVO has been the subject of a number of research analyst reports. 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 report on Wednesday, August 13th. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Zacks Research lowered Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 20th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Finally, Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Friday, August 22nd. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $81.00.

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.

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