Novo Nordisk A/S (NYSE:NVO) Holdings Raised by Allen Wealth Management LLC

Allen Wealth Management LLC increased its stake in Novo Nordisk A/S (NYSE:NVO) by 15.7% in the 4th quarter, HoldingsChannel reports. The fund owned 3,227 shares of the company’s stock after acquiring an additional 437 shares during the period. Allen Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Center for Financial Planning Inc. boosted its stake in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Albion Financial Group UT lifted its holdings in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. Sound Income Strategies LLC boosted its stake in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after buying an additional 243 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth about $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $68.20 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The company has a market capitalization of $306.05 billion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 0.90 and a beta of 0.42. The business’s 50-day moving average is $81.64 and its 200-day moving average is $97.47. Novo Nordisk A/S has a fifty-two week low of $66.88 and a fifty-two week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 47.72%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVO. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

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.