Assenagon Asset Management S.A. Has $72.36 Million Holdings in Astrazeneca Plc $AZN

Key Points

• Assenagon Asset Management S.A. increased its stake in AstraZeneca by 31.5% in Q4 to 787,084 shares, worth approximately $72.36 million.
• Analysts are largely positive—nine Buy ratings and one Sell—resulting in a MarketBeat consensus of "Moderate Buy" with an average target price of $95.75.
• AstraZeneca is trading near $185.54 with a market cap of $287.75 billion and a P/E of 20.09, and it recently paid a $1.595 dividend (payout ratio 74.83%).

Assenagon Asset Management S.A. lifted its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 31.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 787,084 shares of the company's stock after buying an additional 188,730 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Astrazeneca were worth $72,357,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AZN. Triumph Capital Management acquired a new stake in Astrazeneca in the third quarter valued at $25,000. Rakuten Investment Management Inc. acquired a new position in shares of Astrazeneca during the 3rd quarter worth about $31,000. JPL Wealth Management LLC bought a new stake in shares of Astrazeneca in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Astrazeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock valued at $36,000 after purchasing an additional 275 shares during the period. Finally, Aventura Private Wealth LLC acquired a new stake in Astrazeneca in the 4th quarter valued at about $46,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AZN shares. HSBC reiterated a "buy" rating and set a $108.00 price target on shares of Astrazeneca in a report on Wednesday, December 10th. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Citigroup started coverage on Astrazeneca in a research note on Tuesday, January 27th. They set a "buy" rating for the company. Guggenheim reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, December 3rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $103.00 target price on shares of Astrazeneca in a report on Wednesday, December 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.75.

Astrazeneca Trading Up 0.8%

Shares of AZN opened at $185.54 on Wednesday. Astrazeneca Plc has a 52 week low of $122.48 and a 52 week high of $212.71. The stock has a market capitalization of $287.75 billion, a P/E ratio of 20.09, a P/E/G ratio of 1.39 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were given a $1.595 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a dividend yield of 156.0%. Astrazeneca's dividend payout ratio is presently 74.83%.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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