Prime Capital Investment Advisors LLC Increases Stake in Novo Nordisk A/S $NVO

Key Points

• Prime Capital Investment Advisors LLC increased its stake in Novo Nordisk A/S by 12.3% during the second quarter, owning a total of 73,219 shares valued at approximately $5.05 million.
• The company reported earnings of $0.97 per share for the last quarter, surpassing analysts' expectations, with revenues reaching $11.69 billion.
• Novo Nordisk A/S announced a semi-annual dividend of $0.4119 per share with a dividend yield of 240.0%, and its payout ratio stands at 22.53%.

Prime Capital Investment Advisors LLC lifted its position in Novo Nordisk A/S (NYSE:NVO - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,219 shares of the company's stock after acquiring an additional 7,998 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Novo Nordisk A/S were worth $5,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares in the last quarter. North Capital Inc. purchased a new stake in Novo Nordisk A/S during the first quarter worth $27,000. Stone House Investment Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $30,000. Disciplina Capital Management LLC increased 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 valued at $33,000 after acquiring an additional 297 shares during the period. Finally, Spirit of America Management Corp NY bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth $35,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Trading Up 0.1%

NYSE:NVO opened at $59.67 on Tuesday. The company has a market capitalization of $266.43 billion, a P/E ratio of 16.39, a PEG ratio of 2.63 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.56 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 $120.56. The firm has a fifty day simple moving average of $54.73 and a 200-day simple moving average of $63.51.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Ratings Changes

NVO has been the topic of a number of recent research reports. Sanford C. Bernstein raised Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 9th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Wall Street Zen cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. Finally, Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.50.

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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