Woodmont Investment Counsel LLC Acquires 81,163 Shares of Novo Nordisk A/S (NYSE:NVO)

Woodmont Investment Counsel LLC lifted its holdings in Novo Nordisk A/S (NYSE:NVO) by 276.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,551 shares of the company’s stock after acquiring an additional 81,163 shares during the period. Woodmont Investment Counsel LLC’s holdings in Novo Nordisk A/S were worth $9,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Center for Financial Planning Inc. raised its position in Novo Nordisk A/S by 72.4% during the fourth 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 period. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at approximately $28,000. Albion Financial Group UT raised 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 buying an additional 278 shares during the period. Sound Income Strategies LLC raised 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 buying an additional 243 shares during the period. Finally, Hager Investment Management Services LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $76.88 on Monday. Novo Nordisk A/S has a fifty-two week low of $73.80 and a fifty-two week high of $148.15. The company has a market capitalization of $344.98 billion, a PE ratio of 23.37, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a 50 day moving average price of $83.34 and a 200-day moving average price of $100.74. 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 (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current 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 issued a dividend of $0.7874 per share. This represents a yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Analyst Ratings Changes

NVO has been the topic of a number of analyst reports. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.