Beese Fulmer Investment Management Inc. Grows Stock Holdings in Novo Nordisk A/S (NYSE:NVO)

Beese Fulmer Investment Management Inc. grew its stake in Novo Nordisk A/S (NYSE:NVO) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,868 shares of the company’s stock after buying an additional 1,260 shares during the quarter. Novo Nordisk A/S accounts for about 1.2% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 28th largest holding. Beese Fulmer Investment Management Inc.’s holdings in Novo Nordisk A/S were worth $14,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Strategic Financial Concepts LLC lifted its stake in shares of Novo Nordisk A/S by 8,384.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 143,810 shares of the company’s stock valued at $12,371,000 after purchasing an additional 142,115 shares during the period. 1900 Wealth Management LLC grew its holdings in Novo Nordisk A/S by 11.2% in the fourth quarter. 1900 Wealth Management LLC now owns 5,975 shares of the company’s stock valued at $514,000 after purchasing an additional 600 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. GHP Investment Advisors Inc. now owns 4,738 shares of the company’s stock worth $408,000 after buying an additional 178 shares during the period. Argus Investors Counsel Inc. lifted its position in shares of Novo Nordisk A/S by 15.3% during the 4th quarter. Argus Investors Counsel Inc. now owns 3,579 shares of the company’s stock valued at $308,000 after buying an additional 475 shares in the last quarter. Finally, Elm3 Financial Group LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at $1,767,000. 11.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVO. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

NYSE:NVO opened at $87.16 on Friday. The company’s 50-day moving average is $92.24 and its two-hundred day moving average is $112.01. The firm has a market capitalization of $391.15 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 0.93 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. Novo Nordisk A/S has a 1-year low of $78.17 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 86.32% and a net margin of 35.03%. Analysts forecast that Novo Nordisk A/S will post 3.16 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 23.30%.

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.