Alyeska Investment Group L.P. Reduces Holdings in AstraZeneca PLC $AZN

Key Points

• Alyeska Investment Group L.P. reduced its stake in AstraZeneca PLC by 70.1% during the first quarter, now holding 905,000 shares valued at $66.52 million.
• AstraZeneca's stock recently opened at $82.11 and reported a 16.1% year-over-year increase in revenue for the last quarter, totaling $14.46 billion.
• The company has announced a semi-annual dividend of $0.505, with a dividend payout ratio of 37.97% and a yield of 200.0% for shareholders of record on August 8th.

Alyeska Investment Group L.P. lessened its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 70.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905,000 shares of the company's stock after selling 2,122,511 shares during the period. Alyeska Investment Group L.P.'s holdings in AstraZeneca were worth $66,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC boosted its stake in AstraZeneca by 58.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after acquiring an additional 4,811 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of AstraZeneca by 13.1% during the first quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after buying an additional 706 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AstraZeneca by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 311,600 shares of the company's stock worth $22,903,000 after buying an additional 5,557 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of AstraZeneca during the first quarter worth about $727,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of AstraZeneca during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Performance

NASDAQ AZN traded down $0.14 during trading hours on Monday, hitting $81.56. 2,609,008 shares of the stock were exchanged, compared to its average volume of 5,158,671. The company has a market cap of $252.95 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $83.43. The stock has a 50-day moving average of $74.90 and a 200 day moving average of $72.73. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

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