Swedbank AB Purchases 701,779 Shares of AstraZeneca PLC $AZN

Key Points

• Swedbank AB increased its stake in AstraZeneca PLC by 20.8% during the second quarter, owning approximately 4.08 million shares valued at $284.94 million.
• AstraZeneca's recent earnings report showed $14.46 billion in revenue for the quarter, reflecting a 16.1% increase year-over-year, with earnings per share meeting consensus estimates.
• The company announced a $0.505 dividend with a yield of 2.0%, while analysts set a consensus price target of $86.00 for the stock.

Swedbank AB grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 20.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,077,554 shares of the company's stock after buying an additional 701,779 shares during the quarter. Swedbank AB owned approximately 0.13% of AstraZeneca worth $284,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC bought a new stake in AstraZeneca during the 1st quarter worth about $27,000. Larson Financial Group LLC grew its stake in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in AstraZeneca in the 1st quarter valued at about $29,000. Costello Asset Management INC acquired a new position in shares of AstraZeneca during the 1st quarter worth approximately $29,000. Finally, Highline Wealth Partners LLC grew its position in shares of AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after purchasing an additional 340 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, AstraZeneca has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Price Performance

NASDAQ:AZN traded down $0.79 on Friday, hitting $76.28. The company had a trading volume of 6,661,509 shares, compared to its average volume of 3,365,713. The stock has a market capitalization of $236.57 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.40 and a beta of 0.37. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $76.61 and a two-hundred day moving average of $72.97. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $82.41.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. The business 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 was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 EPS. On average, research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current 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 of this dividend was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is presently 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.