Renaissance Technologies LLC Lowers Stake in AstraZeneca PLC (NASDAQ:AZN)

Renaissance Technologies LLC lessened its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,370 shares of the company's stock after selling 284,538 shares during the period. Renaissance Technologies LLC's holdings in AstraZeneca were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Albion Financial Group UT increased its stake in shares of AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company's stock worth $40,000 after purchasing an additional 248 shares in the last quarter. Versant Capital Management Inc increased its stake in AstraZeneca by 2,618.5% during the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company's stock worth $48,000 after buying an additional 707 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of AstraZeneca during the fourth quarter valued at approximately $55,000. Golden State Wealth Management LLC purchased a new position in shares of AstraZeneca in the fourth quarter valued at approximately $55,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of AstraZeneca in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analyst Ratings Changes

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

AstraZeneca Trading Down 1.8 %

Shares of NASDAQ AZN traded down $1.28 during trading on Thursday, hitting $70.51. 5,817,541 shares of the company were exchanged, compared to its average volume of 5,172,755. The company has a fifty day moving average price of $72.14 and a 200-day moving average price of $70.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The firm has a market capitalization of $218.67 billion, a PE ratio of 31.20, a P/E/G ratio of 1.42 and a beta of 0.49. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68.

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

AstraZeneca Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a dividend of $1.03 per share. This is a boost from AstraZeneca's previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. This represents a yield of 2%. AstraZeneca's dividend payout ratio (DPR) is 91.15%.

AstraZeneca 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.