AstraZeneca Target of Unusually Large Options Trading (NASDAQ:AZN)

Key Points

• AstraZeneca experienced a significant 57% increase in call options trading on Wednesday, with 10,448 call options purchased, indicating heightened investor interest.
• The company's stock rose 8.4% to $83.15, contributing to a market capitalization of $257.87 billion, following the release of its earnings report that met analysts' expectations.
• AstraZeneca has seen various institutional investors increase their stakes, with 20.35% of the company's stock currently held by institutional investors and hedge funds.

AstraZeneca PLC (NASDAQ:AZN - Get Free Report) saw some unusual options trading on Wednesday. Stock investors bought 10,448 call options on the company. This is an increase of 57% compared to the average volume of 6,645 call options.

Institutional Investors Weigh In On AstraZeneca

Institutional investors have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC boosted its position in AstraZeneca by 58.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock worth $960,000 after acquiring an additional 4,811 shares during the period. SCS Capital Management LLC acquired a new stake in AstraZeneca during the 1st quarter worth about $3,066,000. Farther Finance Advisors LLC boosted its position in AstraZeneca by 13.1% during the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after acquiring an additional 706 shares during the period. Oliver Luxxe Assets LLC boosted its position in AstraZeneca by 6.0% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock worth $5,472,000 after acquiring an additional 4,449 shares during the period. Finally, Alhambra Investment Management LLC acquired a new stake in AstraZeneca during the 2nd quarter worth about $320,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Up 8.4%

AZN traded up $6.43 during trading on Wednesday, reaching $83.15. The company had a trading volume of 4,905,878 shares, compared to its average volume of 5,087,788. The firm's 50-day simple moving average is $77.37 and its 200 day simple moving average is $72.92. The company has a market cap of $257.87 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 1.36 and a beta of 0.37. AstraZeneca has a 12-month low of $61.24 and a 12-month high of $82.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting analysts' consensus estimates of $1.09. The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.AstraZeneca's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. Equities research analysts anticipate that AstraZeneca will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were given a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is presently 37.97%.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

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.

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