Ascent Group LLC Acquires New Holdings in AstraZeneca PLC $AZN

Key Points

• Ascent Group LLC has invested approximately $1.18 million in AstraZeneca PLC by acquiring 16,066 shares during the 1st quarter.
• AstraZeneca's stock is currently trading at $81.22, with a market capitalization of $251.89 billion and an EPS of $1.09 for the last quarter.
• Several institutional investors, including RNC Capital Management and Fred Alger Management, have increased their holdings in AstraZeneca, showing a growing confidence in the stock.

Ascent Group LLC purchased a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,066 shares of the company's stock, valued at approximately $1,181,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Confluence Investment Management LLC acquired a new position in AstraZeneca in the 1st quarter valued at about $27,000. Larson Financial Group LLC grew its stake in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in AstraZeneca in the 1st quarter valued at about $29,000. Costello Asset Management INC acquired a new position in AstraZeneca in the 1st quarter valued at about $29,000. Finally, Highline Wealth Partners LLC grew its stake in AstraZeneca by 447.4% in the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

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

AstraZeneca Stock Performance

Shares of NASDAQ:AZN traded down $1.54 on Friday, reaching $79.56. 4,491,602 shares of the company's stock were exchanged, compared to its average volume of 3,166,284. The company has a fifty day moving average of $75.95 and a 200-day moving average of $72.97. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. The company has a market capitalization of $246.74 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 1.49 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 (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business's revenue was up 16.1% compared to the same quarter last year. On average, research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were issued a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca's dividend payout ratio is 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.