26,567 Shares in AstraZeneca PLC $AZN Bought by Robbins Farley

Key Points

• Robbins Farley acquired 26,567 shares of AstraZeneca PLC, valued at approximately $1.86 million, indicating growing institutional interest in the company.
• Analysts project a moderate buy rating for AstraZeneca shares, with a target price of $86.00, while Berenberg Bank recently set a price objective of $97.00.
• AstraZeneca reported a quarterly revenue of $14.46 billion, surpassing estimates, amidst a year-over-year revenue growth of 16.1%.

Robbins Farley acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,567 shares of the company's stock, valued at approximately $1,857,000.

A number of other large investors also recently added to or reduced their stakes in AZN. Brighton Jones LLC raised its position in AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after acquiring an additional 2,789 shares during the period. GAMMA Investing LLC raised its position in AstraZeneca by 10,431.7% during the first quarter. GAMMA Investing LLC now owns 579,033 shares of the company's stock worth $42,559,000 after acquiring an additional 573,535 shares during the period. Parallel Advisors LLC raised its position in AstraZeneca by 7.5% during the first quarter. Parallel Advisors LLC now owns 16,049 shares of the company's stock worth $1,180,000 after acquiring an additional 1,125 shares during the period. American National Bank & Trust raised its position in AstraZeneca by 29.4% during the first quarter. American National Bank & Trust now owns 4,522 shares of the company's stock worth $332,000 after acquiring an additional 1,027 shares during the period. Finally, NBC Securities Inc. raised its position in AstraZeneca by 95,925.0% during the first quarter. NBC Securities Inc. now owns 3,841 shares of the company's stock worth $282,000 after acquiring an additional 3,837 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Stock Up 0.5%

AZN stock opened at $74.13 on Tuesday. The company has a market cap of $229.91 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.36 and a beta of 0.37. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $82.41. The firm has a 50-day moving average of $77.24 and a two-hundred day moving average of $72.89.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting analysts' consensus estimates of $1.09. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. AstraZeneca's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

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.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AstraZeneca PLC (NASDAQ:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.