Cascade Financial Partners LLC Buys 400 Shares of Novo Nordisk A/S (NYSE:NVO)

Cascade Financial Partners LLC boosted its position in shares of Novo Nordisk A/S (NYSE:NVO) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,005 shares of the company’s stock after purchasing an additional 400 shares during the period. Cascade Financial Partners LLC’s holdings in Novo Nordisk A/S were worth $258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVO. Apollon Wealth Management LLC raised its position in Novo Nordisk A/S by 2.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 38,835 shares of the company’s stock valued at $4,624,000 after buying an additional 906 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Novo Nordisk A/S by 57.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,275 shares of the company’s stock worth $1,243,000 after acquiring an additional 3,762 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of Novo Nordisk A/S by 27.6% in the third quarter. Verus Capital Partners LLC now owns 6,509 shares of the company’s stock valued at $775,000 after purchasing an additional 1,408 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Novo Nordisk A/S by 7.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 15,910 shares of the company’s stock worth $1,894,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its holdings in Novo Nordisk A/S by 69.1% during the third quarter. Savvy Advisors Inc. now owns 3,728 shares of the company’s stock worth $444,000 after purchasing an additional 1,524 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

Shares of NYSE NVO opened at $74.75 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $335.42 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.90 and a beta of 0.42. Novo Nordisk A/S has a 12 month low of $73.80 and a 12 month high of $148.15. The stock has a 50 day moving average of $84.39 and a 200-day moving average of $103.83.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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, equities research analysts predict that Novo Nordisk A/S will post 3.84 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. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVO. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Three investment analysts have 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 data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

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.