SteelPeak Wealth LLC Has $518,000 Holdings in Novo Nordisk A/S $NVO

SteelPeak Wealth LLC reduced its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,505 shares of the company’s stock after selling 704 shares during the quarter. SteelPeak Wealth LLC’s holdings in Novo Nordisk A/S were worth $518,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC raised its stake in Novo Nordisk A/S by 12.3% during the 2nd quarter. Prime Capital Investment Advisors LLC now owns 73,219 shares of the company’s stock valued at $5,054,000 after purchasing an additional 7,998 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 28.6% in the 2nd quarter. Belpointe Asset Management LLC now owns 13,617 shares of the company’s stock valued at $940,000 after buying an additional 3,028 shares in the last quarter. Euro Pacific Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 28.0% in the 2nd quarter. Euro Pacific Asset Management LLC now owns 115,430 shares of the company’s stock valued at $7,967,000 after buying an additional 25,273 shares in the last quarter. Autumn Glory Partners LLC raised its stake in shares of Novo Nordisk A/S by 10.3% in the 2nd quarter. Autumn Glory Partners LLC now owns 39,854 shares of the company’s stock valued at $2,751,000 after buying an additional 3,724 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in shares of Novo Nordisk A/S by 0.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 1,707,030 shares of the company’s stock valued at $117,608,000 after buying an additional 11,508 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Novo Nordisk A/S Stock Up 1.0%

Shares of NYSE:NVO opened at $59.63 on Thursday. Novo Nordisk A/S has a 12 month low of $45.05 and a 12 month high of $120.56. The company’s 50-day moving average price is $55.03 and its two-hundred day moving average price is $63.45. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $266.25 billion, a P/E ratio of 16.38, a P/E/G ratio of 2.64 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is currently 22.53%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NVO shares. Barclays restated an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.50.

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.