HighTower Advisors LLC Boosts Stake in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• HighTower Advisors LLC has increased its stake in AstraZeneca PLC by 4.9%, acquiring a total of 745,598 shares valued at approximately $54.8 million.
• The company reported $1.09 earnings per share (EPS) in its latest quarter, matching analysts' expectations, with a revenue of $14.46 billion, surpassing the estimates of $14.08 billion.
• AstraZeneca announced a semi-annual dividend of $0.505 per share with a remarkable yield of 200.0%, reflecting a dividend payout ratio of 37.97%.

HighTower Advisors LLC lifted its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,598 shares of the company's stock after purchasing an additional 34,973 shares during the quarter. HighTower Advisors LLC's holdings in AstraZeneca were worth $54,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of AstraZeneca in the fourth quarter worth $26,000. Confluence Investment Management LLC bought a new stake in AstraZeneca during the first quarter valued at about $27,000. Larson Financial Group LLC grew its holdings in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. bought a new stake in AstraZeneca during the fourth quarter valued at about $29,000. Finally, FNY Investment Advisers LLC bought a new stake in AstraZeneca during the first quarter valued at about $29,000. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded up $0.70 during trading hours on Friday, hitting $79.17. The company's stock had a trading volume of 4,760,279 shares, compared to its average volume of 5,576,905. The business has a 50 day moving average price of $72.32 and a two-hundred day moving average price of $71.91. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a market cap of $245.54 billion, a PE ratio of 29.76, a PEG ratio of 1.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced 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 return on equity of 32.84% and a net margin of 14.68%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.08 billion. During the same period in the previous year, the business earned $1.24 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. Analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's payout ratio is presently 37.97%.

AstraZeneca 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.