AstraZeneca PLC $AZN Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in AstraZeneca PLC by 2.0%, owning 795,584 shares worth approximately $55.6 million as of its latest SEC filing.
• AstraZeneca's stock has a consensus rating of "Moderate Buy" with a target price set at $86.00 as reported by multiple analysts.
• The company recently announced a semi-annual dividend of $0.505 per share, resulting in a dividend yield of 200.0%.

Aberdeen Group plc grew its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 795,584 shares of the company's stock after buying an additional 15,793 shares during the quarter. Aberdeen Group plc's holdings in AstraZeneca were worth $55,595,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AZN. Dynamic Advisor Solutions LLC increased its position in AstraZeneca by 58.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock worth $960,000 after purchasing an additional 4,811 shares during the period. Robbins Farley purchased a new stake in shares of AstraZeneca in the second quarter valued at approximately $1,857,000. SCS Capital Management LLC acquired a new position in AstraZeneca during the first quarter worth $3,066,000. Farther Finance Advisors LLC raised its position in AstraZeneca by 13.1% in the first quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after acquiring an additional 706 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its holdings in AstraZeneca by 6.0% in the second quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock valued at $5,472,000 after acquiring an additional 4,449 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

AZN has been the subject of a number of research analyst reports. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a report on Wednesday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, AstraZeneca has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Price Performance

AstraZeneca stock opened at $84.53 on Friday. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week 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 firm's 50-day simple moving average is $79.18 and its 200 day simple moving average is $73.46. The firm has a market capitalization of $262.16 billion, a PE ratio of 31.78, a P/E/G ratio of 1.55 and a beta of 0.36.

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

AstraZeneca Cuts Dividend

The business also recently disclosed 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 dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca's payout ratio is currently 37.97%.

About AstraZeneca

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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