Apollon Wealth Management LLC Buys 5,393 Shares of Novo Nordisk A/S (NYSE:NVO)

Apollon Wealth Management LLC boosted its position in Novo Nordisk A/S (NYSE:NVO) by 13.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 44,228 shares of the company’s stock after acquiring an additional 5,393 shares during the quarter. Apollon Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $3,804,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Novo Nordisk A/S by 11.3% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,160 shares of the company’s stock worth $138,000 after purchasing an additional 118 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Novo Nordisk A/S in the third quarter valued at $163,000. JGP Wealth Management LLC increased its position in shares of Novo Nordisk A/S by 18.6% during the third quarter. JGP Wealth Management LLC now owns 2,805 shares of the company’s stock worth $334,000 after acquiring an additional 439 shares in the last quarter. Bennett Selby Investments LP lifted its position in Novo Nordisk A/S by 11.1% in the 3rd quarter. Bennett Selby Investments LP now owns 26,151 shares of the company’s stock valued at $3,114,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Perfromance Wealth Partners LLC raised its stake in shares of Novo Nordisk A/S by 5.6% in the third quarter. Perfromance Wealth Partners LLC now owns 159,137 shares of the company’s stock worth $18,948,000 after purchasing an additional 8,419 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $86.39 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. The firm has a market cap of $387.66 billion, a PE ratio of 26.26, a PEG ratio of 0.96 and a beta of 0.45. Novo Nordisk A/S has a 1 year low of $78.17 and a 1 year high of $148.15. The stock’s fifty day moving average price is $91.46 and its two-hundred day moving average price is $111.51.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Buy” and an average price target of $145.25.

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.