9258 Wealth Management LLC Decreases Stake in Novo Nordisk A/S (NYSE:NVO)

9258 Wealth Management LLC lessened its position in shares of Novo Nordisk A/S (NYSE:NVO) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,589 shares of the company’s stock after selling 109 shares during the quarter. 9258 Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $370,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cascade Financial Partners LLC increased its position in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the last quarter. Cravens & Co Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after buying an additional 85 shares during the last quarter. AA Financial Advisors LLC raised its position in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after buying an additional 86 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in shares of Novo Nordisk A/S by 0.7% in the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock valued at $1,582,000 after acquiring an additional 89 shares during the last quarter. Finally, Essex LLC grew its position in Novo Nordisk A/S by 2.0% in the first quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, August 19th. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Performance

NVO stock opened at $130.87 on Friday. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The firm has a market cap of $587.28 billion, a price-to-earnings ratio of 45.13, a PEG ratio of 1.52 and a beta of 0.42. The business’s fifty day simple moving average is $135.03 and its two-hundred day simple moving average is $132.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

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.