Novo Nordisk A/S (NYSE:NVO) is Fortune Financial Advisors LLC’s 8th Largest Position

Fortune Financial Advisors LLC grew its position in shares of Novo Nordisk A/S (NYSE:NVO) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,784 shares of the company’s stock after purchasing an additional 520 shares during the period. Novo Nordisk A/S makes up approximately 2.3% of Fortune Financial Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Fortune Financial Advisors LLC’s holdings in Novo Nordisk A/S were worth $3,823,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Gilliland Jeter Wealth Management LLC increased its stake in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Finally, Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 4.2 %

Novo Nordisk A/S stock opened at $135.17 on Thursday. The business has a fifty day moving average of $134.18 and a two-hundred day moving average of $132.75. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $606.58 billion, a P/E ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 0.42. Novo Nordisk A/S has a twelve month low of $86.96 and a twelve month high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations 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, analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Finally, BMO Capital Markets lowered their price target on 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 equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

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.