AstraZeneca PLC $AZN Shares Acquired by Aprio Wealth Management LLC

Key Points

• Aprio Wealth Management LLC increased its holdings in AstraZeneca PLC by 116.7% during the first quarter, owning a total of 10,452 shares valued at $768,000.
• Despite the increase in holdings by various institutional investors, AstraZeneca's recently announced semi-annual dividend of $0.505 per share suggests a cautionary approach amidst earnings fluctuations.
• Wall Street analysts have a consensus rating of "Moderate Buy" for AstraZeneca, with a target price set at $86.00 after the company reported earnings that met expectations.

Aprio Wealth Management LLC boosted its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 116.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,452 shares of the company's stock after purchasing an additional 5,629 shares during the quarter. Aprio Wealth Management LLC's holdings in AstraZeneca were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AZN. Lindbrook Capital LLC increased its holdings in AstraZeneca by 1.9% during the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock worth $557,000 after buying an additional 141 shares during the last quarter. Principal Securities Inc. grew its position in AstraZeneca by 0.5% in the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock valued at $2,062,000 after purchasing an additional 142 shares during the period. Sage Mountain Advisors LLC boosted its holdings in shares of AstraZeneca by 3.4% in the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock worth $329,000 after buying an additional 147 shares during the last quarter. CoreCap Advisors LLC lifted 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 in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of AstraZeneca by 0.7% in the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock worth $1,743,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Stock Performance

AstraZeneca stock traded down $0.14 during midday trading on Monday, hitting $81.56. 2,609,008 shares of the company were exchanged, compared to its average volume of 5,158,671. 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 PLC has a fifty-two week low of $61.24 and a fifty-two week high of $83.43. The business has a fifty day simple moving average of $74.90 and a two-hundred day simple moving average of $72.73. The firm has a market capitalization of $252.95 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37.

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

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be given a $0.505 dividend. The ex-dividend date is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is currently 37.97%.

About AstraZeneca

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.