Harrell Investment Partners LLC Buys Shares of 13,392 Novo Nordisk A/S $NVO

Key Points

• Harrell Investment Partners LLC purchased 13,392 shares of Novo Nordisk A/S, valued at approximately $924,000, as part of their new stake in the company during the second quarter.
• Several institutional investors, including Peddock Capital Advisors LLC and Norden Group LLC, significantly increased their stakes in Novo Nordisk A/S, with ownership among institutional investors now at 11.54%.
• Novo Nordisk A/S recently announced a semi-annual dividend of $0.4119 per share, which represents a significant dividend yield of 240.0%.

Harrell Investment Partners LLC bought a new stake in Novo Nordisk A/S (NYSE:NVO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,392 shares of the company's stock, valued at approximately $924,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Peddock Capital Advisors LLC increased its stake in shares of Novo Nordisk A/S by 11.2% in the second quarter. Peddock Capital Advisors LLC now owns 12,695 shares of the company's stock valued at $876,000 after buying an additional 1,280 shares during the period. Ballentine Partners LLC increased its stake in shares of Novo Nordisk A/S by 23.6% in the second quarter. Ballentine Partners LLC now owns 35,629 shares of the company's stock valued at $2,459,000 after buying an additional 6,801 shares during the period. Norden Group LLC increased its stake in shares of Novo Nordisk A/S by 216.3% in the second quarter. Norden Group LLC now owns 96,332 shares of the company's stock valued at $6,649,000 after buying an additional 65,877 shares during the period. Maseco LLP acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $39,000. Finally, Unified Investment Management acquired a new stake in shares of Novo Nordisk A/S in the second quarter valued at about $692,000. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Trading Down 1.3%

Shares of Novo Nordisk A/S stock opened at $58.78 on Thursday. 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 52 week low of $45.05 and a 52 week high of $127.61. The stock has a 50 day moving average price of $56.39 and a two-hundred day moving average price of $64.84. The stock has a market capitalization of $262.47 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $11.69 billion during the quarter, compared to analysts' expectations of $77.51 billion. As a group, equities 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 announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVO shares. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. TD Cowen decreased their price target on Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and an average price target of $81.00.

About Novo Nordisk A/S

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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