Wealthspire Advisors LLC Buys 13,009 Shares of Novo Nordisk A/S (NYSE:NVO)

Wealthspire Advisors LLC grew its stake in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 101.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,884 shares of the company's stock after purchasing an additional 13,009 shares during the period. Wealthspire Advisors LLC's holdings in Novo Nordisk A/S were worth $1,797,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after acquiring an additional 1,165,955 shares during the last quarter. Folketrygdfondet grew its position in shares of Novo Nordisk A/S by 6.9% during the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after buying an additional 617,974 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock worth $537,189,000 after buying an additional 2,639,693 shares in the last quarter. Sustainable Growth Advisers LP grew its position in shares of Novo Nordisk A/S by 3.8% during the first quarter. Sustainable Growth Advisers LP now owns 5,543,246 shares of the company's stock worth $384,923,000 after buying an additional 202,443 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Novo Nordisk A/S by 26.8% during the fourth quarter. Northern Trust Corp now owns 4,689,098 shares of the company's stock worth $403,356,000 after purchasing an additional 991,022 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Performance

Shares of NVO traded up $2.30 on Friday, reaching $51.06. 23,312,357 shares of the stock traded hands, compared to its average volume of 23,928,642. The firm has a market cap of $227.98 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.47 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $139.74. The stock's 50-day moving average price is $67.14 and its 200-day moving average price is $71.60.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $11.69 billion for 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%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is 45.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NVO shares. UBS Group cut Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. 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. Finally, BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $93.67.

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.