AstraZeneca PLC (NASDAQ:AZN) Stock Holdings Decreased by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 72.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,631 shares of the company's stock after selling 258,983 shares during the period. Fred Alger Management LLC's holdings in AstraZeneca were worth $6,462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in AstraZeneca during the fourth quarter worth approximately $26,000. Albion Financial Group UT boosted its holdings in shares of AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company's stock valued at $40,000 after purchasing an additional 248 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of AstraZeneca by 31.8% during the 4th quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after buying an additional 155 shares during the period. Crews Bank & Trust acquired a new stake in shares of AstraZeneca during the 4th quarter worth $55,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of AstraZeneca in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AZN. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. BNP Paribas assumed coverage on AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price for the company. Finally, UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $88.00.

AstraZeneca Stock Down 1.8%

Shares of AZN traded down $1.23 during mid-day trading on Tuesday, reaching $67.72. 4,827,720 shares of the stock traded hands, compared to its average volume of 5,158,386. The stock has a fifty day simple moving average of $71.15 and a 200 day simple moving average of $69.61. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $210.02 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 1.42 and a beta of 0.40.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The firm had revenue of $13.59 billion for the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS. Sell-side analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company's marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.