Opal Wealth Advisors LLC Purchases 962 Shares of Novo Nordisk A/S (NYSE:NVO)

Opal Wealth Advisors LLC lifted its position in Novo Nordisk A/S (NYSE:NVO) by 30.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,133 shares of the company’s stock after buying an additional 962 shares during the period. Opal Wealth Advisors LLC’s holdings in Novo Nordisk A/S were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NVO. Daiwa Securities Group Inc. bought a new position in Novo Nordisk A/S in the third quarter worth about $28,000. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S in the third quarter worth about $42,000. Albion Financial Group UT raised its holdings in Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock worth $44,000 after purchasing an additional 278 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after purchasing an additional 243 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new position in Novo Nordisk A/S in the fourth quarter worth about $46,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $86.39 on Monday. The business’s 50 day moving average price is $91.46 and its 200 day moving average price is $111.36. The firm has a market cap of $387.66 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 52 week low of $78.17 and a 52 week high of $148.15. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.86 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVO shares. 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. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $145.25.

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.