M Holdings Securities Inc. Takes $277,000 Position in Novo Nordisk A/S (NYSE:NVO)

M Holdings Securities Inc. acquired a new stake in Novo Nordisk A/S (NYSE:NVOGet Rating) in the first quarter, Holdings Channel.com reports. The firm acquired 2,496 shares of the company’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farmers & Merchants Investments Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $26,000. Cornerstone Advisory LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $28,000. Worth Asset Management LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $32,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth approximately $34,000. Finally, Godsey & Gibb Associates purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $37,000. 6.62% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

NVO opened at $101.42 on Monday. The stock’s 50-day moving average price is $108.40 and its 200 day moving average price is $109.43. Novo Nordisk A/S has a 12-month low of $91.51 and a 12-month high of $122.16. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The firm has a market cap of $229.51 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.81 and a beta of 0.47.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, August 23rd. Investors of record on Monday, August 15th were paid a dividend of $0.5836 per share. This represents a yield of 1.1%. The ex-dividend date was Friday, August 12th. Novo Nordisk A/S’s payout ratio is 24.18%.

Analyst Upgrades and Downgrades

NVO has been the subject of several research reports. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $750.00 price target for the company in a research report on Monday, June 27th. JPMorgan Chase & Co. upgraded Novo Nordisk A/S from a “neutral” rating to an “overweight” rating in a report on Tuesday, June 7th. UBS Group cut Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a report on Tuesday, June 28th. Guggenheim upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, May 31st. Finally, Morgan Stanley upgraded Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a report on Friday, July 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $682.43.

Novo Nordisk A/S Profile

(Get Rating)

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

Further Reading

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Institutional Ownership by Quarter for Novo Nordisk A/S (NYSE:NVO)

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