Armstrong Fleming & Moore Inc Has $897,000 Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Armstrong Fleming & Moore Inc grew its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 7.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,532 shares of the company’s stock after buying an additional 500 shares during the quarter. Armstrong Fleming & Moore Inc’s holdings in Novo Nordisk A/S were worth $897,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVO. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC raised its holdings in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth approximately $25,000. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Up 0.5 %

Shares of NVO stock traded up $0.59 on Thursday, reaching $118.62. 1,627,355 shares of the company were exchanged, compared to its average volume of 4,292,681. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The company has a market cap of $532.31 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 1.53 and a beta of 0.42. The company has a 50-day moving average of $128.99 and a 200-day moving average of $131.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.83%.

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.