Ashton Thomas Private Wealth LLC Acquires New Holdings in AstraZeneca PLC $AZN

Key Points

• Ashton Thomas Private Wealth LLC has acquired a new stake in AstraZeneca PLC, purchasing 3,345 shares valued at approximately $246,000 during the first quarter.
• The firm's latest quarterly earnings report showed a revenue of $14.46 billion, exceeding analysts' expectations and marking a 16.1% increase from the same quarter last year.
• AstraZeneca's stock has experienced a decline of 1.9%, and analysts have set an average target price of $86.00 with a moderate buy rating.

Ashton Thomas Private Wealth LLC acquired a new stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,345 shares of the company's stock, valued at approximately $246,000.

A number of other institutional investors have also recently bought and sold shares of AZN. Brighton Jones LLC grew its holdings in AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock valued at $379,000 after purchasing an additional 2,789 shares during the period. American Assets Inc. acquired a new position in AstraZeneca during the fourth quarter valued at approximately $426,000. Deutsche Bank AG grew its holdings in AstraZeneca by 3.8% during the fourth quarter. Deutsche Bank AG now owns 164,624 shares of the company's stock valued at $10,786,000 after purchasing an additional 6,039 shares during the period. NorthRock Partners LLC grew its holdings in AstraZeneca by 16.4% during the fourth quarter. NorthRock Partners LLC now owns 3,192 shares of the company's stock valued at $209,000 after purchasing an additional 450 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in AstraZeneca by 13.4% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 59,213 shares of the company's stock valued at $3,923,000 after purchasing an additional 7,008 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Down 1.9%

AstraZeneca stock opened at $79.56 on Friday. The stock has a market capitalization of $246.74 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 1.49 and a beta of 0.37. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $75.95 and a 200-day moving average of $72.97.

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

AstraZeneca Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.

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