Financial & Tax Architects LLC Has $570,000 Holdings in Novo Nordisk A/S (NYSE:NVO)

Financial & Tax Architects LLC boosted its stake in shares of Novo Nordisk A/S (NYSE:NVO) by 35.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,991 shares of the company’s stock after purchasing 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.

A number of other hedge funds also recently made changes to their positions in NVO. Charles Schwab Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 38.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after purchasing an additional 26,067 shares during the last quarter. Bank of New Hampshire grew its holdings in shares of Novo Nordisk A/S by 1,356.8% in the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares during the last quarter. Cim LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $23,547,000. Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $1,045,000. Finally, Mark Asset Management LP bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $1,035,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVO. 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 for the company. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Stock Down 3.6 %

Shares of NYSE:NVO opened at $132.00 on Wednesday. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company has a 50 day moving average of $133.74 and a 200-day moving average of $133.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $592.35 billion, a price-to-earnings ratio of 45.52, a P/E/G ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is 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.