Private Wealth Partners LLC Takes $616,000 Position in Novo Nordisk A/S (NYSE:NVO)

Private Wealth Partners LLC acquired a new stake in Novo Nordisk A/S (NYSE:NVO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,950 shares of the company’s stock, valued at approximately $616,000.

A number of other hedge funds also recently made changes to their positions in the company. Valmark Advisers Inc. lifted its position in shares of Novo Nordisk A/S by 82.4% in the fourth quarter. Valmark Advisers Inc. now owns 5,257 shares of the company’s stock worth $544,000 after buying an additional 2,375 shares in the last quarter. Addison Advisors LLC lifted its position in shares of Novo Nordisk A/S by 12.3% in the fourth quarter. Addison Advisors LLC now owns 2,331 shares of the company’s stock worth $241,000 after buying an additional 255 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Novo Nordisk A/S by 33.1% in the fourth quarter. Headlands Technologies LLC now owns 2,857 shares of the company’s stock worth $296,000 after buying an additional 711 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Novo Nordisk A/S by 1.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 13,703 shares of the company’s stock worth $1,418,000 after buying an additional 239 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Novo Nordisk A/S by 1.6% in the fourth quarter. Truist Financial Corp now owns 597,059 shares of the company’s stock worth $61,766,000 after buying an additional 9,450 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective on the stock. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. Finally, UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Trading Up 0.8 %

Shares of NVO traded up $1.06 during mid-day trading on Friday, reaching $126.85. 3,312,457 shares of the company’s stock traded hands, compared to its average volume of 3,307,405. The stock has a market cap of $569.24 billion, a P/E ratio of 46.89, a P/E/G ratio of 2.12 and a beta of 0.41. The stock’s 50-day moving average is $126.86 and its two-hundred day moving average is $112.11. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Research analysts forecast that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were paid a dividend of $0.664 per share. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date was Friday, March 22nd. This represents a dividend yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

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.