Astrazeneca Plc $AZN Shares Purchased by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in AstraZeneca by 30.5%, buying 11,742 shares to hold 50,240 shares worth about $4.62 million, while other institutions (e.g., Bank of Montreal, Bank of America, Allspring) also made large additions and institutional ownership stands near 20.35%.
• AstraZeneca has a market capitalization of about $294.2 billion and a P/E of 32.68, recently paid a $1.595 dividend (record date Feb 20, paid Mar 23), and carries an analyst consensus of "Moderate Buy" (eight Buys, one Sell) with an average price target of $102.67.

Concurrent Investment Advisors LLC grew its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,240 shares of the company's stock after buying an additional 11,742 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Astrazeneca were worth $4,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AZN. Bank of Montreal Can lifted its stake in shares of Astrazeneca by 344.6% in the 3rd quarter. Bank of Montreal Can now owns 3,478,114 shares of the company's stock worth $266,841,000 after acquiring an additional 2,695,793 shares during the period. Holocene Advisors LP lifted its stake in shares of Astrazeneca by 41.8% in the 3rd quarter. Holocene Advisors LP now owns 6,129,194 shares of the company's stock worth $470,232,000 after acquiring an additional 1,807,565 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Astrazeneca by 64.8% in the 2nd quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company's stock worth $264,373,000 after acquiring an additional 1,487,662 shares during the period. Bank of America Corp DE lifted its stake in shares of Astrazeneca by 4.7% in the 3rd quarter. Bank of America Corp DE now owns 32,633,139 shares of the company's stock worth $2,503,614,000 after acquiring an additional 1,461,786 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Astrazeneca by 750.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,628,771 shares of the company's stock worth $149,147,000 after acquiring an additional 1,437,253 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

Astrazeneca Trading Down 0.0%

NYSE AZN opened at $189.71 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94. Astrazeneca Plc has a 12 month low of $132.32 and a 12 month high of $212.71. The company has a market capitalization of $294.22 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.35.

Astrazeneca Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were issued a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca's payout ratio is presently 74.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AZN. Citigroup began coverage on shares of Astrazeneca in a research note on Tuesday, January 27th. They issued a "buy" rating for the company. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Barclays reaffirmed an "overweight" rating on shares of Astrazeneca in a research note on Tuesday, January 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Astrazeneca currently has an average rating of "Moderate Buy" and an average price target of $102.67.

Astrazeneca Profile

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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