Raymond James Financial Services Advisors Inc. lifted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 10.9% in the 4th quarter, Holdings Channel reports. The firm owned 91,629 shares of the company’s stock after purchasing an additional 9,018 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Novo Nordisk A/S were worth $4,918,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation lifted its position in shares of Novo Nordisk A/S by 677.1% during the 3rd quarter. Zions Bancorporation now owns 2,852 shares of the company’s stock worth $137,000 after purchasing an additional 2,485 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $176,000. Addenda Capital Inc. purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $201,000. Charter Trust Co. purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $201,000. Finally, Lakeview Capital Partners LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $204,000. 6.83% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on NVO shares. Morgan Stanley raised shares of Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research report on Friday, December 1st. Bank of America raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 6th. JPMorgan Chase & Co. raised shares of Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research report on Friday, December 29th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Deutsche Bank reissued a “buy” rating on shares of Novo Nordisk A/S in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.00.
Novo Nordisk A/S announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a special dividend, which will be paid on Tuesday, April 3rd. Investors of record on Monday, March 26th will be given a $0.8117 dividend. The ex-dividend date of this dividend is Friday, March 23rd. This represents a yield of 0.96%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 35.34%.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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