Texas Capital Bank Wealth Management Services Inc Takes $1.62 Million Position in Novo Nordisk A/S (NYSE:NVO)

Texas Capital Bank Wealth Management Services Inc acquired a new position in Novo Nordisk A/S (NYSE:NVO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,380 shares of the company’s stock, valued at approximately $1,624,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares in the last quarter. DSM Capital Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 257,816.0% in the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the period. Capital International Investors grew its position in shares of Novo Nordisk A/S by 22.3% in the fourth quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after purchasing an additional 1,155,313 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NVO shares. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Argus increased their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $120.76 on Friday. Novo Nordisk A/S has a fifty-two week low of $86.96 and a fifty-two week high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market cap of $541.91 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The firm’s fifty day moving average price is $131.97 and its 200-day moving average price is $133.00.

Novo Nordisk A/S (NYSE:NVO) last released 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 during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities research analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Novo Nordisk A/S 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.