GM Advisory Group LLC Acquires 11,184 Shares of Novo Nordisk A/S $NVO

Key Points

• GM Advisory Group LLC significantly increased its holdings in Novo Nordisk A/S by 443.5% during the 1st quarter, now owning 13,706 shares valued at $952,000.
• Novo Nordisk A/S reported earnings per share (EPS) of $0.97 for the last quarter, exceeding analyst expectations of $0.93.
• The firm has announced a semi-annual dividend of $0.4119, with a yield of 240.0% and a current payout ratio of 22.53%.

GM Advisory Group LLC lifted its holdings in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 443.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,706 shares of the company's stock after purchasing an additional 11,184 shares during the period. GM Advisory Group LLC's holdings in Novo Nordisk A/S were worth $952,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $29,000. Transce3nd LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $33,000. North Capital Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter worth $27,000. Copeland Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter worth $30,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Stock Up 2.6%

NVO traded up $1.4410 during midday trading on Friday, hitting $56.8910. The company had a trading volume of 17,869,499 shares, compared to its average volume of 29,651,820. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $139.74. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $254.02 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.98 and a beta of 0.63. The stock's 50 day moving average price is $62.57 and its 200 day moving average price is $69.21.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVO. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday. TD Cowen dropped their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Finally, Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.