AstraZeneca PLC $AZN Shares Acquired by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management Inc. increased its stake in AstraZeneca by 26.2% in Q2, owning 49,187 shares valued at approximately $3.4 million as of the recent quarter.
• AstraZeneca recently reported $14.46 billion in revenue for the quarter, exceeding analysts' estimates, and has a consensus rating of "Moderate Buy" with a price target of $86.00.
• The company has faced challenges, including a decline in earnings per share compared to the previous year and a dividend payment of $0.505 per share, reflecting a 200% yield.

Ramirez Asset Management Inc. boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,187 shares of the company's stock after purchasing an additional 10,204 shares during the period. Ramirez Asset Management Inc.'s holdings in AstraZeneca were worth $3,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AZN. Larson Financial Group LLC raised its holdings in shares of AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 289 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC acquired a new stake in shares of AstraZeneca during the first quarter valued at approximately $29,000. Highline Wealth Partners LLC raised its holdings in shares of AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after acquiring an additional 340 shares during the period. Finally, Maseco LLP acquired a new stake in shares of AstraZeneca during the second quarter valued at approximately $34,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AZN shares. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a report on Wednesday. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca Stock Down 0.4%

AZN stock opened at $85.04 on Friday. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $86.57. 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 $263.74 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.57 and a beta of 0.36. The company has a 50 day moving average of $78.97 and a two-hundred day moving average of $73.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company's revenue was up 16.1% compared to the same quarter last year. On average, equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio is 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.

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