AstraZeneca PLC $AZN Shares Sold by Capital Group Private Client Services Inc.

Key Points

• Capital Group Private Client Services cut its stake in AstraZeneca by 69.8% in Q3, selling 215,682 shares and leaving 93,516 shares valued at about $7.18 million.
• AstraZeneca announced a $1.595 dividend payable on March 23 with record and ex-dividend dates on February 20; MarketBeat reported a dividend payout ratio of 66.26% and a stated yield of 156.0%.
• AZN opened at $195 (1‑year range $122.48–$212.71) with a market cap of $302.42B and a P/E of 64.78; Wall Street consensus is a “Moderate Buy” (nine Buys, one Sell) with a MarketBeat target price of $95.75.

Capital Group Private Client Services Inc. decreased its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 69.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,516 shares of the company's stock after selling 215,682 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in AstraZeneca were worth $7,175,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Investment Management Inc. purchased a new stake in shares of AstraZeneca during the third quarter worth approximately $31,000. FSA Wealth Management LLC lifted its stake in AstraZeneca by 376.0% in the second quarter. FSA Wealth Management LLC now owns 476 shares of the company's stock worth $33,000 after acquiring an additional 376 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in AstraZeneca in the second quarter worth approximately $33,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in AstraZeneca by 144.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock worth $36,000 after acquiring an additional 275 shares in the last quarter. Finally, Abound Wealth Management grew its holdings in AstraZeneca by 1,767.9% during the 3rd quarter. Abound Wealth Management now owns 523 shares of the company's stock worth $40,000 after acquiring an additional 495 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Performance

Shares of AZN opened at $195.00 on Tuesday. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71. The stock has a market capitalization of $302.42 billion, a P/E ratio of 64.78, a P/E/G ratio of 1.59 and a beta of 0.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. The company's fifty day moving average is $148.76 and its two-hundred day moving average is $107.42.

AstraZeneca Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, February 20th will be given a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a yield of 156.0%. AstraZeneca's dividend payout ratio (DPR) is presently 66.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AZN. TD Cowen restated a "buy" rating on shares of AstraZeneca in a report on Tuesday, December 9th. Citigroup started coverage on AstraZeneca in a report on Tuesday, January 27th. They issued a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $103.00 price target on shares of AstraZeneca in a research note on Wednesday, December 3rd. Guggenheim reaffirmed a "buy" rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of AstraZeneca in a research report on Friday, February 6th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $95.75.

AstraZeneca Profile

AstraZeneca is a global, science-led 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's operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

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