Fifth Third Wealth Advisors LLC Acquires New Shares in Novo Nordisk A/S (NYSE:NVO)

Fifth Third Wealth Advisors LLC bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,786 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the 1st quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $30,000. Finally, Halpern Financial Inc. boosted its position in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO traded up $2.29 during trading on Thursday, hitting $137.25. The stock had a trading volume of 819,198 shares, compared to its average volume of 4,430,040. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15. The stock has a market capitalization of $615.91 billion, a price-to-earnings ratio of 46.54, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The stock has a 50-day simple moving average of $136.45 and a two-hundred day simple moving average of $131.30.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s payout ratio is 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.