PNC Financial Services Group Inc. Purchases 28,554 Shares of AstraZeneca PLC (NASDAQ:AZN)

Key Points

• PNC Financial Services Group Inc. has increased its stake in AstraZeneca PLC by 13.0%, owning 248,180 shares worth approximately $18.24 million as of the latest filing.
• Analysts have a consensus rating of "Moderate Buy" for AstraZeneca, with price targets ranging from $75.00 to $97.00.
• AstraZeneca has announced a semi-annual dividend of $0.505 per share, representing a yield of 200.0% with a payout ratio of 77.44%.

PNC Financial Services Group Inc. lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 248,180 shares of the company's stock after acquiring an additional 28,554 shares during the quarter. PNC Financial Services Group Inc.'s holdings in AstraZeneca were worth $18,241,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. TIAA Trust National Association increased its stake in AstraZeneca by 1.7% during the 1st quarter. TIAA Trust National Association now owns 12,946 shares of the company's stock worth $952,000 after acquiring an additional 220 shares during the period. Mengis Capital Management Inc. acquired a new position in shares of AstraZeneca during the first quarter worth $4,462,000. Jefferies Financial Group Inc. bought a new position in shares of AstraZeneca in the 1st quarter valued at $463,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of AstraZeneca during the 1st quarter valued at $283,000. Finally, MGO One Seven LLC increased its holdings in AstraZeneca by 10.5% in the 1st quarter. MGO One Seven LLC now owns 41,905 shares of the company's stock worth $3,080,000 after purchasing an additional 3,968 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Down 0.6%

Shares of NASDAQ AZN traded down $0.43 during trading on Friday, hitting $73.64. The stock had a trading volume of 3,359,052 shares, compared to its average volume of 5,353,157. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The firm has a fifty day moving average of $71.84 and a two-hundred day moving average of $71.59. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The company has a market capitalization of $228.39 billion, a PE ratio of 27.68, a PEG ratio of 1.36 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. AstraZeneca's revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. As a group, equities research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.505 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is presently 77.44%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AZN. Berenberg Bank set a $97.00 price target on AstraZeneca in a research note on Wednesday, July 9th. BNP Paribas assumed coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.00.

About AstraZeneca

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.