Stokes Capital Advisors LLC Acquires 1,605 Shares of Novo Nordisk A/S (NYSE:NVO)

Stokes Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,785 shares of the company’s stock after acquiring an additional 1,605 shares during the period. Stokes Capital Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S during the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Halpern Financial Inc. raised its holdings in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Finally, Riverview Trust Co bought a new position in shares of Novo Nordisk A/S in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

NVO stock traded down $2.16 during trading on Friday, reaching $134.89. The stock had a trading volume of 2,111,269 shares, compared to its average volume of 4,498,375. The stock’s 50 day moving average is $136.90 and its two-hundred day moving average is $130.98. The firm has a market cap of $605.32 billion, a PE ratio of 46.51, a PEG ratio of 1.33 and a beta of 0.41. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 16th will be paid a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 25.52%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVO shares. The Goldman Sachs Group assumed coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, August 5th. Finally, Argus increased their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $145.17.

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.