Apollon Wealth Management LLC Cuts Holdings in Novo Nordisk A/S $NVO

Apollon Wealth Management LLC trimmed its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,578 shares of the company’s stock after selling 2,614 shares during the quarter. Apollon Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $3,215,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVO. First Hawaiian Bank lifted its position in Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after purchasing an additional 142 shares during the period. Anchor Investment Management LLC lifted its position in Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after purchasing an additional 150 shares during the period. Xponance Inc. lifted its position in Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock valued at $230,000 after purchasing an additional 158 shares during the period. Foster Dykema Cabot & Partners LLC lifted its position in Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after purchasing an additional 166 shares during the period. Finally, PFG Investments LLC lifted its position in Novo Nordisk A/S by 1.0% during the first quarter. PFG Investments LLC now owns 18,102 shares of the company’s stock valued at $1,257,000 after purchasing an additional 178 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 13th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. 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. TD Cowen decreased their price objective on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Finally, Barclays reiterated an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

Novo Nordisk A/S Stock Down 3.0%

NVO stock opened at $56.95 on Monday. The stock has a market capitalization of $254.27 billion, a P/E ratio of 15.64, a P/E/G ratio of 2.58 and a beta of 0.68. The firm has a 50-day simple moving average of $55.44 and a 200-day simple moving average of $63.11. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52 week low of $45.05 and a 52 week high of $120.56.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 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 Tuesday, August 26th. Stockholders of record on Monday, August 18th were paid a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Novo Nordisk A/S 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.