Astrazeneca Plc $AZN Shares Sold by CIBC Private Wealth Group LLC

Key Points

• CIBC Private Wealth Group LLC cut its stake in AstraZeneca by 1.0%, selling 78,213 shares and now holds 8,154,148 shares valued at about $625.59 million, roughly 0.26% of the company and the firm's 13th-largest position.
• AstraZeneca announced a dividend of $1.595 per share (ex-dividend and record date: Feb 20; payable Mar 23) and reported a payout ratio of 66.26%.
• Shares opened at $191.33, implying a market cap of $296.73 billion and a P/E of 32.96, while analysts' consensus is a "Moderate Buy" with an average target price of $95.75.

CIBC Private Wealth Group LLC lowered its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 1.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,154,148 shares of the company's stock after selling 78,213 shares during the quarter. Astrazeneca makes up approximately 1.1% of CIBC Private Wealth Group LLC's holdings, making the stock its 13th largest position. CIBC Private Wealth Group LLC owned approximately 0.26% of Astrazeneca worth $625,586,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new position in shares of Astrazeneca during the third quarter valued at $25,000. Rakuten Investment Management Inc. bought a new stake in Astrazeneca in the 3rd quarter valued at about $31,000. VSM Wealth Advisory LLC bought a new stake in Astrazeneca in the 2nd quarter valued at about $33,000. JPL Wealth Management LLC acquired a new position in Astrazeneca during the 3rd quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Astrazeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock worth $36,000 after purchasing an additional 275 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

Astrazeneca Stock Down 0.4%

NYSE AZN opened at $191.33 on Wednesday. Astrazeneca Plc has a 1 year low of $122.48 and a 1 year high of $212.71. The firm has a market capitalization of $296.73 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.45 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be given a dividend of $1.595 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a dividend yield of 156.0%. Astrazeneca's payout ratio is 66.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Astrazeneca from a "buy" rating to a "hold" rating in a report on Thursday, March 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $103.00 target price on shares of Astrazeneca in a research note on Wednesday, December 3rd. Guggenheim reiterated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, December 3rd. TD Cowen reissued a "buy" rating on shares of Astrazeneca in a research note on Tuesday, December 9th. Finally, Barclays reaffirmed an "overweight" rating on shares of Astrazeneca in a report on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $95.75.

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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