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

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,786 shares of the company’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NVO. 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 boosted its holdings in 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 acquiring an additional 86 shares during the period. Sage Rhino Capital LLC grew its position in Novo Nordisk A/S by 0.7% during the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after acquiring an additional 89 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Novo Nordisk A/S by 0.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after purchasing an additional 90 shares during the period. Finally, Essex LLC boosted its stake in shares of Novo Nordisk A/S by 2.0% during the first quarter. Essex LLC now owns 4,684 shares of the company’s stock valued at $601,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. BMO Capital Markets dropped 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. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. Finally, Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Up 1.7 %

Shares of NVO stock traded up $2.29 during trading hours on Thursday, hitting $137.25. 819,198 shares of the company’s stock traded hands, 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. The stock has a market cap of $615.91 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.33 and a beta of 0.41. The stock’s fifty day simple moving average is $136.45 and its two-hundred day simple moving average is $131.30. Novo Nordisk A/S has a 12-month low of $86.96 and a 12-month high of $148.15.

Novo Nordisk A/S Cuts Dividend

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