Berkshire Asset Management LLC PA Acquires New Shares in Novo Nordisk A/S (NYSE:NVO)

Berkshire Asset Management LLC PA bought a new position in shares of Novo Nordisk A/S (NYSE:NVO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,137 shares of the company’s stock, valued at approximately $892,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marco Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 1.5% in the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after acquiring an additional 100 shares during the last quarter. Carr Financial Group Corp raised its position in Novo Nordisk A/S by 5.1% in the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock valued at $250,000 after purchasing an additional 101 shares during the period. Menard Financial Group LLC lifted its stake in Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after purchasing an additional 102 shares in the last quarter. Optimist Retirement Group LLC boosted its position in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after buying an additional 112 shares during the period. Finally, Financial Counselors Inc. grew its stake in shares of Novo Nordisk A/S by 1.1% in the third quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

NVO has been the topic of several research reports. Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 1.0 %

Shares of Novo Nordisk A/S stock opened at $87.19 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Novo Nordisk A/S has a 52-week low of $77.82 and a 52-week high of $148.15. The company has a market capitalization of $391.25 billion, a P/E ratio of 26.50, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a 50 day moving average of $84.91 and a 200 day moving average of $105.29.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date is Monday, March 31st. 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. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

About Novo Nordisk A/S

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.