AstraZeneca PLC $AZN is Cidel Asset Management Inc.'s 9th Largest Position

Key Points

• Cidel Asset Management Inc. increased its position in AstraZeneca PLC by 4.9%, making it the firm's 9th largest holding, valued at approximately $41.9 million.
• AstraZeneca reported revenue of $14.46 billion for the last quarter, above analysts' expectations, but its earnings per share met forecasts at $1.09.
• The company announced a semi-annual dividend of $0.505 per share, resulting in a dividend yield of 200.0%, albeit AstraZeneca has a dividend payout ratio of 37.97%.

Cidel Asset Management Inc. boosted its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,997 shares of the company's stock after buying an additional 28,292 shares during the quarter. AstraZeneca makes up approximately 2.5% of Cidel Asset Management Inc.'s portfolio, making the stock its 9th biggest position. Cidel Asset Management Inc.'s holdings in AstraZeneca were worth $41,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AZN. Larson Financial Group LLC boosted its stake in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after buying an additional 289 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company's stock valued at $28,000 after purchasing an additional 149 shares during the period. Costello Asset Management INC purchased a new stake in shares of AstraZeneca during the first quarter valued at approximately $29,000. Maseco LLP purchased a new stake in shares of AstraZeneca during the second quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of AstraZeneca during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at $84.69 on Friday. 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 market cap of $262.66 billion, a PE ratio of 31.84, a P/E/G ratio of 1.56 and a beta of 0.36. The business has a 50 day moving average of $80.23 and a 200 day moving average of $73.86. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $86.57.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting analysts' consensus estimates of $1.09. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. As a group, equities research 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 was paid on Monday, September 8th. Investors 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 was Friday, August 8th. AstraZeneca's dividend payout ratio is currently 37.97%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AZN shares. Weiss Ratings reissued a "buy (b)" rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca Company Profile

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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