Segment Wealth Management LLC Has $11.09 Million Stock Holdings in Novo Nordisk A/S $NVO

Segment Wealth Management LLC grew its holdings in Novo Nordisk A/S (NYSE:NVO) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,668 shares of the company’s stock after buying an additional 3,751 shares during the quarter. Segment Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $11,089,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in NVO. Kingstone Capital Partners Texas LLC raised its stake in shares of Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after buying an additional 10,001,898 shares in the last quarter. Nuveen LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $370,272,000. Amundi raised its stake in shares of Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock valued at $331,576,000 after buying an additional 1,627,051 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 15,919.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock valued at $72,523,000 after buying an additional 1,038,137 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Novo Nordisk A/S by 118.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,594,544 shares of the company’s stock valued at $110,725,000 after buying an additional 864,579 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 1.6%

NVO opened at $59.68 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $266.45 billion, a PE ratio of 16.39, a PEG ratio of 2.25 and a beta of 0.68. Novo Nordisk A/S has a 1-year low of $45.05 and a 1-year high of $120.56. The firm has a 50-day moving average price of $54.92 and a two-hundred day moving average price of $63.84.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share 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 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%. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent research reports. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. 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. 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. Finally, HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.50.

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.