Angeles Wealth Management LLC Decreases Stake in Novo Nordisk A/S $NVO

Angeles Wealth Management LLC lowered its position in Novo Nordisk A/S (NYSE:NVO) by 23.7% in the second quarter, Holdings Channel reports. The fund owned 10,481 shares of the company’s stock after selling 3,263 shares during the period. Angeles Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Riverbend Wealth Management LLC lifted its stake in Novo Nordisk A/S by 5.9% in the second quarter. Riverbend Wealth Management LLC now owns 8,451 shares of the company’s stock worth $583,000 after acquiring an additional 471 shares during the last quarter. Sage Private Wealth Group LLC purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $226,000. Stratos Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 6.3% during the 2nd quarter. Stratos Investment Management LLC now owns 89,369 shares of the company’s stock worth $6,168,000 after buying an additional 5,323 shares during the last quarter. Smithbridge Asset Management Inc. DE lifted its position in shares of Novo Nordisk A/S by 3.5% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 91,634 shares of the company’s stock worth $6,325,000 after buying an additional 3,103 shares during the last quarter. Finally, Barlow Wealth Partners Inc. purchased a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth approximately $16,547,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Down 3.0%

NVO stock opened at $54.41 on Friday. The company has a fifty day moving average price of $56.24 and a 200 day moving average price of $62.75. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $118.26. The company has a market cap of $242.93 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. Berenberg Bank upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Hsbc Global Res upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Dbs Bank upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $76.00.

Novo Nordisk A/S Company 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.