AstraZeneca PLC $AZN Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in AstraZeneca PLC by 1.5%, now owning 293,817 shares worth approximately $20.5 million.
• AstraZeneca's latest earnings report revealed a 16.1% increase in revenue year-over-year, totaling $14.46 billion.
• The company declared a semi-annual dividend of $0.505, maintaining a dividend yield of 200.0% with a payout ratio of 37.97%.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,817 shares of the company's stock after buying an additional 4,351 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in AstraZeneca were worth $20,532,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Cornell Pochily Investment Advisors Inc. acquired a new position in AstraZeneca during the second quarter worth approximately $269,000. Pure Financial Advisors LLC acquired a new position in AstraZeneca during the second quarter worth approximately $225,000. Bartlett & CO. Wealth Management LLC increased its position in AstraZeneca by 46.2% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 2,267 shares of the company's stock worth $158,000 after buying an additional 716 shares during the period. Impact Capital Partners LLC increased its position in AstraZeneca by 15.6% during the second quarter. Impact Capital Partners LLC now owns 3,282 shares of the company's stock worth $229,000 after buying an additional 444 shares during the period. Finally, Community Bank & Trust Waco Texas increased its position in AstraZeneca by 4.7% during the second quarter. Community Bank & Trust Waco Texas now owns 7,982 shares of the company's stock worth $558,000 after buying an additional 359 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Trading Up 2.0%

Shares of AZN stock opened at $85.31 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $85.50. The company has a market capitalization of $264.58 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.36. The business's 50 day moving average is $78.04 and its two-hundred day moving average is $73.10.

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

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a $0.505 dividend. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's payout ratio is 37.97%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AstraZeneca in a research report on Saturday, September 27th. Berenberg Bank set a $97.00 target price on AstraZeneca in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $86.00.

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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