AstraZeneca PLC $AZN Shares Sold by Pittenger & Anderson Inc.

Key Points

• Pittenger & Anderson Inc. reduced its stake in AstraZeneca PLC by 15.4%, selling 9,361 shares during the second quarter and holding 51,245 shares worth $3,581,000 after the sale.
• AstraZeneca's quarterly earnings met expectations with an EPS of $1.09 and revenues of $14.46 billion, a 16.1% year-over-year increase.
• The company declared a semi-annual dividend of $0.505, with a yield of 200.0%, although it reported a decrease in earnings per share compared to the previous year.

Pittenger & Anderson Inc. lessened its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 15.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,245 shares of the company's stock after selling 9,361 shares during the quarter. Pittenger & Anderson Inc.'s holdings in AstraZeneca were worth $3,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after buying an additional 289 shares during the last quarter. Richardson Financial Services Inc. raised its stake in shares of AstraZeneca by 59.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company's stock worth $28,000 after buying an additional 149 shares during the last quarter. Costello Asset Management INC acquired a new position in shares of AstraZeneca during the 1st quarter worth $29,000. Maseco LLP acquired a new position in shares of AstraZeneca during the 2nd quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of AstraZeneca during the 1st quarter worth $37,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Trading Down 1.0%

AstraZeneca stock opened at $83.87 on Tuesday. The stock has a market cap of $260.11 billion, a PE ratio of 31.53, a P/E/G ratio of 1.56 and a beta of 0.36. The stock has a 50-day moving average price of $80.42 and a 200 day moving average price of $73.97. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $86.57. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were issued a $0.505 dividend. The ex-dividend date was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is 37.97%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AZN shares. 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 price objective on AstraZeneca in a research report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft cut AstraZeneca from a "hold" rating to a "sell" rating in a research report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and a consensus target price 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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