Independent Advisor Alliance Has $8.52 Million Holdings in Novo Nordisk A/S (NYSE:NVO)

Independent Advisor Alliance lifted its position in Novo Nordisk A/S (NYSE:NVO) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,534 shares of the company’s stock after purchasing an additional 1,385 shares during the quarter. Independent Advisor Alliance’s holdings in Novo Nordisk A/S were worth $8,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S in the 2nd quarter valued at $25,000. Gilliland Jeter Wealth Management LLC grew its position in Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S during the third quarter worth $28,000. Finally, Halpern Financial Inc. boosted its stake in shares of Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Stock Up 2.4 %

NYSE:NVO opened at $105.06 on Monday. The company has a market cap of $471.46 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The stock’s fifty day moving average price is $115.48 and its two-hundred day moving average price is $128.81. Novo Nordisk A/S has a 52-week low of $94.73 and a 52-week high of $148.15.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $144.50.

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.