Summit Financial LLC Has $913,000 Stock Position in Novo Nordisk A/S (NYSE:NVO)

Summit Financial LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO - Free Report) by 122.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,617 shares of the company's stock after acquiring an additional 5,837 shares during the quarter. Summit Financial LLC's holdings in Novo Nordisk A/S were worth $913,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Center for Financial Planning Inc. raised its position in shares of 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 acquiring an additional 123 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Novo Nordisk A/S by 196.8% during the third quarter. Dunhill Financial LLC now owns 469 shares of the company's stock worth $56,000 after purchasing an additional 311 shares during the period. Albion Financial Group UT increased its holdings in 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 purchasing an additional 278 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $46,000. Finally, Sound Income Strategies LLC boosted its holdings in Novo Nordisk A/S by 82.1% during the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company's stock worth $46,000 after buying an additional 243 shares during the last quarter. Institutional investors own 11.54% of the company's stock.

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Novo Nordisk A/S Stock Down 1.7 %

NVO stock traded down $1.16 during trading hours on Thursday, reaching $67.08. 8,818,417 shares of the stock were exchanged, compared to its average volume of 5,614,006. The firm's 50-day moving average is $81.64 and its 200-day moving average is $97.47. Novo Nordisk A/S has a 12 month low of $66.88 and a 12 month high of $148.15. The company has a market cap of $301.04 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect 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 disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's payout ratio is currently 47.72%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. StockNews.com lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Friday, March 21st. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.