Astrazeneca Plc $AZN Position Boosted by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its AstraZeneca stake by 15.8% in the fourth quarter, ending with 56,114 shares worth about $9.85 million.
• Wall Street sentiment remains positive, with several firms reiterating or upgrading ratings; the stock now has a Moderate Buy consensus and an average target price of $205.33.
• AstraZeneca recently reported better-than-expected quarterly results, posting $2.58 EPS on $15.29 billion in revenue, both above analyst estimates.

NewEdge Wealth LLC raised its holdings in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,114 shares of the company's stock after acquiring an additional 7,653 shares during the quarter. NewEdge Wealth LLC's holdings in Astrazeneca were worth $9,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Triumph Capital Management bought a new stake in shares of Astrazeneca in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank grew its stake in shares of Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after buying an additional 154 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Astrazeneca in the 4th quarter valued at approximately $30,000. Rakuten Investment Management Inc. bought a new stake in shares of Astrazeneca in the 3rd quarter valued at approximately $31,000. Finally, YANKCOM Partnership bought a new stake in shares of Astrazeneca in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley reissued an "overweight" rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Jefferies Financial Group reissued a "buy" rating on shares of Astrazeneca in a research note on Thursday, April 30th. DZ Bank upgraded Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings initiated coverage on Astrazeneca in a report on Wednesday, March 11th. They issued a "buy (b)" rating for the company. Finally, Wall Street Zen upgraded Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.33.

Astrazeneca Stock Down 0.1%

Shares of AZN stock opened at $182.71 on Monday. Astrazeneca Plc has a 12 month low of $132.32 and a 12 month high of $212.71. The firm has a market cap of $283.37 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.26. The stock has a 50 day moving average of $194.66 and a 200-day moving average of $181.13. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The company had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. On average, equities analysts predict that Astrazeneca Plc will post 10.26 EPS for the current year.

Astrazeneca Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were given a dividend of $1.595 per share. The ex-dividend date was Friday, February 20th. This represents a dividend yield of 156.0%. Astrazeneca's payout ratio is currently 65.17%.

About Astrazeneca

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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