AstraZeneca PLC $AZN Shares Purchased by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in AstraZeneca PLC by 31.8% during the 2nd quarter, holding 57,730 shares valued at approximately $4 million.
• AstraZeneca reported a quarterly earnings per share of $1.09, matching analyst estimates, with revenues reaching $14.46 billion, a 16.1% increase compared to the previous year.
• Analysts maintain a "Moderate Buy" rating for AstraZeneca, with an average price target of $86.00, reflecting confidence in the company's future performance.

Turtle Creek Wealth Advisors LLC increased its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 31.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,730 shares of the company's stock after purchasing an additional 13,943 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in AstraZeneca were worth $4,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in AstraZeneca by 30.9% during the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock worth $1,003,124,000 after purchasing an additional 3,224,251 shares during the last quarter. Boston Partners increased its position in AstraZeneca by 35.9% during the first quarter. Boston Partners now owns 5,036,645 shares of the company's stock worth $368,712,000 after purchasing an additional 1,329,166 shares during the last quarter. Ameriprise Financial Inc. increased its position in AstraZeneca by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 4,942,367 shares of the company's stock worth $364,283,000 after purchasing an additional 261,064 shares during the last quarter. Swedbank AB increased its position in AstraZeneca by 20.8% during the second quarter. Swedbank AB now owns 4,077,554 shares of the company's stock worth $284,939,000 after purchasing an additional 701,779 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in AstraZeneca by 7.3% during the first quarter. WCM Investment Management LLC now owns 4,003,070 shares of the company's stock worth $295,387,000 after purchasing an additional 272,537 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Down 0.3%

Shares of AZN stock opened at $84.83 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The firm has a market cap of $263.09 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.56 and a beta of 0.36. The company has a 50-day moving average of $79.82 and a two-hundred day moving average of $73.69. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $86.57.

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

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid a $0.505 dividend. 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%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, AstraZeneca presently has an average rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca Company 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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