Edgemoor Investment Advisors Inc. Takes $1.31 Million Position in Novo Nordisk A/S (NYSE:NVO)

Edgemoor Investment Advisors Inc. bought a new stake in Novo Nordisk A/S (NYSE:NVO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,184 shares of the company’s stock, valued at approximately $1,306,000.

Several other hedge funds and other institutional investors have also modified their holdings of NVO. CIBC Asset Management Inc raised its holdings in shares of Novo Nordisk A/S by 3.7% during the third quarter. CIBC Asset Management Inc now owns 69,558 shares of the company’s stock worth $8,194,000 after acquiring an additional 2,494 shares in the last quarter. WESPAC Advisors SoCal LLC purchased a new stake in shares of Novo Nordisk A/S during the third quarter worth $3,368,000. Schear Investment Advisers LLC raised its holdings in Novo Nordisk A/S by 12.2% during the third quarter. Schear Investment Advisers LLC now owns 6,463 shares of the company’s stock valued at $770,000 after buying an additional 704 shares in the last quarter. Frazier Financial Advisors LLC raised its holdings in Novo Nordisk A/S by 27.7% during the third quarter. Frazier Financial Advisors LLC now owns 2,370 shares of the company’s stock valued at $282,000 after buying an additional 514 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC raised its holdings in Novo Nordisk A/S by 219.5% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 5,876 shares of the company’s stock valued at $700,000 after buying an additional 4,037 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Up 1.8 %

NVO stock opened at $77.22 on Monday. Novo Nordisk A/S has a twelve month low of $73.80 and a twelve month high of $148.15. The company has a market cap of $346.54 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The business’s 50-day simple moving average is $83.95 and its 200 day simple moving average is $102.79. 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 (NYSE:NVO) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent research reports. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Thursday. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.25.

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.