Loeb Partners Corp Takes Position in Novo Nordisk A/S (NVO)
Loeb Partners Corp purchased a new stake in shares of Novo Nordisk A/S (NYSE:NVO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,000 shares of the company’s stock, valued at approximately $858,000.
A number of other hedge funds have also recently bought and sold shares of NVO. Cim LLC increased its stake in Novo Nordisk A/S by 0.5% in the first quarter. Cim LLC now owns 196,121 shares of the company’s stock valued at $6,723,000 after buying an additional 1,045 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Novo Nordisk A/S during the first quarter valued at $449,000. Baldwin Brothers Inc. MA increased its stake in Novo Nordisk A/S by 54.9% in the first quarter. Baldwin Brothers Inc. MA now owns 21,936 shares of the company’s stock valued at $752,000 after buying an additional 7,778 shares during the last quarter. TNB Financial purchased a new stake in Novo Nordisk A/S during the first quarter valued at $2,628,000. Finally, Capstone Asset Management Co. increased its stake in Novo Nordisk A/S by 5.8% in the first quarter. Capstone Asset Management Co. now owns 76,085 shares of the company’s stock valued at $2,608,000 after buying an additional 4,170 shares during the last quarter. Institutional investors and hedge funds own 6.40% of the company’s stock.
Shares of Novo Nordisk A/S (NYSE NVO) traded up 3.76% during trading on Friday, hitting $45.81. The stock had a trading volume of 2,503,210 shares. The stock has a market cap of $113.62 billion, a price-to-earnings ratio of 18.74 and a beta of 0.63. Novo Nordisk A/S has a 12-month low of $30.89 and a 12-month high of $47.98. The stock’s 50-day moving average is $42.76 and its 200-day moving average is $38.81.
The business also recently declared an annual dividend, which will be paid on Tuesday, August 29th. Investors of record on Monday, August 21st will be issued a dividend of $0.336 per share. The ex-dividend date is Friday, August 18th. This represents a dividend yield of 1.07%. This is a positive change from Novo Nordisk A/S’s previous annual dividend of $0.33. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 36.00%.
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Several analysts have weighed in on the company. BidaskClub upgraded Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Wednesday, June 21st. Finally, TheStreet upgraded Novo Nordisk A/S from a “c+” rating to a “b-” rating in a research note on Tuesday, May 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $53.00.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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