Frank Rimerman Advisors LLC Has $1.86 Million Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Frank Rimerman Advisors LLC decreased its holdings in shares of Novo Nordisk A/S (NYSE:NVO) by 49.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,641 shares of the company’s stock after selling 21,417 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Novo Nordisk A/S were worth $1,862,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NVO. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at $28,000. Albion Financial Group UT lifted its holdings in Novo Nordisk A/S by 121.4% during the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after purchasing an additional 278 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Novo Nordisk A/S by 82.1% during the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock valued at $46,000 after purchasing an additional 243 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Up 1.8 %

Shares of NYSE NVO opened at $77.22 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. Novo Nordisk A/S has a 52 week low of $73.80 and a 52 week high of $148.15. The stock has a market capitalization of $346.54 billion, a P/E ratio of 23.47, a PEG ratio of 0.90 and a beta of 0.42. The stock’s fifty day moving average is $83.95 and its 200 day moving average is $103.24.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is currently 47.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVO. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Thursday. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

About Novo Nordisk A/S

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.