Nicholas Hoffman & Company LLC. Invests $496,000 in Novo Nordisk A/S (NYSE:NVO)

Nicholas Hoffman & Company LLC. acquired a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,472 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $25,000. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of recent research reports. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. 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 for the company in a research note on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, August 19th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Trading Down 2.7 %

Shares of NVO opened at $130.87 on Friday. The firm has a fifty day simple moving average of $135.03 and a two-hundred day simple moving average of $132.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15. The stock has a market capitalization of $587.28 billion, a P/E ratio of 45.13, a PEG ratio of 1.52 and a beta of 0.42. 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 earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced 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. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

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.