Tower View Wealth Management LLC Purchases 1,379 Shares of Novo Nordisk A/S (NYSE:NVO)

Tower View Wealth Management LLC increased its position in shares of Novo Nordisk A/S (NYSE:NVO) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,035 shares of the company’s stock after purchasing an additional 1,379 shares during the quarter. Tower View Wealth Management LLC’s holdings in Novo Nordisk A/S were worth $2,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NVO. Spinnaker Trust raised its stake in Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after acquiring an additional 100 shares in the last quarter. Marco Investment Management LLC raised its stake in Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after acquiring an additional 100 shares in the last quarter. Carr Financial Group Corp raised its stake in Novo Nordisk A/S by 5.1% during the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after acquiring an additional 101 shares in the last quarter. Menard Financial Group LLC raised 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 acquiring an additional 102 shares in the last quarter. Finally, Optimist Retirement Group LLC raised its stake in 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 acquiring an additional 112 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. 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. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets lowered 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. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $90.68 on Friday. The company has a market capitalization of $406.91 billion, a P/E ratio of 27.56, a P/E/G ratio of 0.90 and a beta of 0.45. The business has a 50 day moving average of $84.82 and a 200-day moving average of $106.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. Novo Nordisk A/S has a 1 year low of $77.82 and a 1 year high of $148.15.

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, beating 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%. On average, equities research analysts predict 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This represents a yield of 1.2%. 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. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

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.