AstraZeneca PLC $AZN Stock Position Raised by Professional Advisory Services Inc.

Key Points

• Professional Advisory Services Inc. has increased its holdings in AstraZeneca PLC by 7.1% in Q2, making it the 9th largest position for the firm, valued at approximately $22.85 million.
• AstraZeneca reported a 16.1% year-over-year revenue increase, reaching $14.46 billion, with an EPS of $1.09 for the quarter, matching analyst expectations.
• The company recently paid a semi-annual dividend of $0.505 per share, with a payout ratio of 37.97% and a market capitalization of approximately $236.57 billion.

Professional Advisory Services Inc. increased its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 327,045 shares of the company's stock after purchasing an additional 21,612 shares during the period. AstraZeneca accounts for about 3.1% of Professional Advisory Services Inc.'s holdings, making the stock its 9th biggest holding. Professional Advisory Services Inc.'s holdings in AstraZeneca were worth $22,854,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. increased its position in AstraZeneca by 19.6% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 1,192 shares of the company's stock worth $83,000 after purchasing an additional 195 shares during the period. AA Financial Advisors LLC increased its holdings in shares of AstraZeneca by 21.8% during the 2nd quarter. AA Financial Advisors LLC now owns 8,563 shares of the company's stock worth $598,000 after buying an additional 1,530 shares during the last quarter. Phillips Wealth Planners LLC increased its holdings in shares of AstraZeneca by 67.9% during the 2nd quarter. Phillips Wealth Planners LLC now owns 8,522 shares of the company's stock worth $597,000 after buying an additional 3,447 shares during the last quarter. Diversified Trust Co increased its holdings in AstraZeneca by 17.4% in the 2nd quarter. Diversified Trust Co now owns 7,125 shares of the company's stock valued at $498,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in AstraZeneca by 50.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,167,516 shares of the company's stock valued at $81,586,000 after purchasing an additional 392,843 shares in 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 report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Trading Up 1.6%

AZN traded up $1.22 during trading on Monday, reaching $77.50. 4,868,356 shares of the company's stock were exchanged, compared to its average volume of 5,096,701. The company's fifty day moving average price is $76.61 and its 200-day moving average price is $72.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $82.41. The firm has a market capitalization of $240.36 billion, a PE ratio of 29.14, a P/E/G ratio of 1.40 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. The business had revenue of $14.46 billion for 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 firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. As a group, equities analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were given a dividend of $0.505 per share. This represents a yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

AstraZeneca 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.