Astrazeneca Plc $AZN Shares Sold by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC reduced its stake in AstraZeneca by 19.1% in Q3, selling 8,560 shares and retaining 36,225 shares worth about $2.78 million per its latest 13F filing.
• AstraZeneca declared a dividend of $1.595 per share payable March 23 (record/ex-dividend date Feb 20); the article reports a dividend yield of 156.0% and a payout ratio of 66.26%.
• Wall Street coverage is largely positive—nine analysts rate AZN a Buy and one a Sell, giving a consensus rating of "Moderate Buy" with an average price target of $95.75.

Elevation Point Wealth Partners LLC lowered its stake in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 19.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,225 shares of the company's stock after selling 8,560 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Astrazeneca were worth $2,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZN. Binnacle Investments Inc grew its position in Astrazeneca by 21.8% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock worth $51,000 after purchasing an additional 118 shares during the last quarter. Chapin Davis Inc. raised its holdings in shares of Astrazeneca by 3.3% in the third quarter. Chapin Davis Inc. now owns 3,795 shares of the company's stock worth $291,000 after buying an additional 120 shares during the last quarter. 44 Wealth Management LLC raised its holdings in shares of Astrazeneca by 0.7% in the third quarter. 44 Wealth Management LLC now owns 16,722 shares of the company's stock worth $1,283,000 after buying an additional 124 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of Astrazeneca by 30.6% during the third quarter. CoreCap Advisors LLC now owns 534 shares of the company's stock worth $41,000 after buying an additional 125 shares during the period. Finally, Highline Wealth Partners LLC lifted its stake in shares of Astrazeneca by 32.0% during the third quarter. Highline Wealth Partners LLC now owns 532 shares of the company's stock worth $41,000 after buying an additional 129 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Price Performance

Shares of Astrazeneca stock opened at $190.20 on Friday. The firm has a market cap of $294.98 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 1.43 and a beta of 0.32. Astrazeneca Plc has a 1 year low of $122.48 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.72.

Astrazeneca Dividend Announcement

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

Wall Street Analysts Forecast Growth

AZN has been the topic of several research reports. HSBC reissued a "buy" rating and issued a $108.00 target price on shares of Astrazeneca in a research report on Wednesday, December 10th. Citigroup assumed coverage on Astrazeneca in a research note on Tuesday, January 27th. They set a "buy" rating on the stock. Barclays reissued an "overweight" rating on shares of Astrazeneca in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Astrazeneca in a research note on Friday, February 6th. Finally, TD Cowen reiterated a "buy" rating on shares of Astrazeneca in a research report on Tuesday, December 9th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $95.75.

About Astrazeneca

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.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astrazeneca Plc (NYSE:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.