Meridian Wealth Management LLC Has $2.01 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Meridian Wealth Management LLC decreased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 81.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,377 shares of the company's stock after selling 103,509 shares during the period. Meridian Wealth Management LLC's holdings in Novo Nordisk A/S were worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. increased 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 worth $25,000 after acquiring an additional 123 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $42,000. Albion Financial Group UT raised its position in shares of Novo Nordisk A/S by 121.4% in the fourth quarter. Albion Financial Group UT now owns 507 shares of the company's stock valued at $44,000 after buying an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock valued at $46,000 after buying an additional 243 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company's stock.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock traded down $0.85 during midday trading on Friday, reaching $87.19. The company's stock had a trading volume of 5,272,276 shares, compared to its average volume of 8,772,084. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market cap of $391.25 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $77.82 and a 52 week high of $148.15. The business has a 50-day moving average price of $84.91 and a 200-day moving average price of $105.62.

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Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business 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 dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S's dividend payout ratio is 47.72%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an "equal weight" rating on the stock. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.25.

Novo Nordisk A/S Company 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.