Financial & Tax Architects LLC Purchases 1,039 Shares of Novo Nordisk A/S (NYSE:NVO)

Financial & Tax Architects LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 35.2% during the 2nd quarter, Holdings Channel reports. The fund owned 3,991 shares of the company’s stock after buying an additional 1,039 shares during the quarter. Financial & Tax Architects LLC’s holdings in Novo Nordisk A/S were worth $570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Novo Nordisk A/S by 38.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares in the last quarter. Bank of New Hampshire lifted its stake in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares in the last quarter. Cim LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $23,547,000. Burford Brothers Inc. bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $1,045,000. Finally, Mark Asset Management LP bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $1,035,000. Institutional investors own 11.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. Argus boosted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets cut their price objective on shares of 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. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Finally, The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

Shares of NVO opened at $132.00 on Wednesday. The company has a market cap of $592.35 billion, a price-to-earnings ratio of 45.52, a PEG ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 1-year low of $86.96 and a 1-year high of $148.15. The company’s fifty day simple moving average is $133.74 and its 200 day simple moving average is $133.20. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, research analysts forecast 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 disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 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.