Assetmark Inc. Buys 25,004 Shares of Astrazeneca Plc $AZN

Key Points

• Assetmark Inc. increased its stake in AstraZeneca by 8.1%, buying 25,004 shares to hold 335,387 shares worth about $30.83 million at the end of the quarter.
• MarketBeat shows a consensus rating of Moderate Buy for AZN (eight Buy, one Sell) with an average price target of $102.67.
• AstraZeneca shares opened at $201.14 (down 1.6%), the company has a market cap of $311.95 billion, and it paid a $1.595 dividend on March 23 with a payout ratio of 74.83%.

Assetmark Inc. raised its stake in Astrazeneca Plc (NYSE:AZN - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,387 shares of the company's stock after purchasing an additional 25,004 shares during the quarter. Assetmark Inc.'s holdings in Astrazeneca were worth $30,832,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Triumph Capital Management bought a new position in shares of Astrazeneca during the 3rd quarter worth approximately $25,000. Bangor Savings Bank boosted its stake in shares of Astrazeneca by 102.7% during the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock worth $28,000 after acquiring an additional 154 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Astrazeneca during the 4th quarter worth approximately $30,000. Rakuten Investment Management Inc. bought a new stake in Astrazeneca in the 3rd quarter valued at $31,000. Finally, YANKCOM Partnership acquired a new position in Astrazeneca in the 4th quarter valued at $31,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AZN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Astrazeneca in a report on Friday, February 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Wednesday, April 8th. Barclays reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Tuesday, January 6th. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. Finally, Citigroup initiated coverage on Astrazeneca in a report on Tuesday, January 27th. They issued a "buy" rating on the stock. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

Astrazeneca Stock Down 1.6%

Shares of NYSE AZN opened at $201.14 on Thursday. The firm has a market capitalization of $311.95 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 1.54 and a beta of 0.35. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. Astrazeneca Plc has a fifty-two week low of $132.32 and a fifty-two week high of $212.71.

Astrazeneca Announces Dividend

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

Astrazeneca Company 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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