Great Lakes Retirement Inc. Buys 384 Shares of Novo Nordisk A/S (NYSE:NVO)

Great Lakes Retirement Inc. grew its position in Novo Nordisk A/S (NYSE:NVO) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,296 shares of the company’s stock after purchasing an additional 384 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Novo Nordisk A/S were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NVO. Wealthcare Advisory Partners LLC lifted its position in Novo Nordisk A/S by 38.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,253 shares of the company’s stock worth $1,830,000 after acquiring an additional 3,990 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Novo Nordisk A/S by 91.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock worth $26,412,000 after purchasing an additional 98,007 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in Novo Nordisk A/S by 3.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,549 shares of the company’s stock valued at $841,000 after purchasing an additional 223 shares during the period. Capital Asset Advisory Services LLC grew its holdings in Novo Nordisk A/S by 59.6% in the 1st quarter. Capital Asset Advisory Services LLC now owns 3,402 shares of the company’s stock valued at $428,000 after buying an additional 1,271 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its position in Novo Nordisk A/S by 14.1% in the 1st quarter. Kathmere Capital Management LLC now owns 20,764 shares of the company’s stock worth $2,666,000 after buying an additional 2,560 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Trading Down 1.6 %

Shares of NVO stock opened at $113.94 on Friday. The firm has a fifty day moving average of $127.52 and a 200-day moving average of $131.50. The stock has a market cap of $511.31 billion, a price-to-earnings ratio of 39.02, a P/E/G ratio of 1.52 and a beta of 0.42. Novo Nordisk A/S has a 52-week low of $92.94 and a 52-week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

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 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 net margin of 34.86% and a return on equity of 87.43%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.01 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. Investors of record on Friday, August 16th were given 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 24.66%.

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.