PNC Financial Services Group Inc. grew its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 248,180 shares of the company's stock after purchasing 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 filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Banque Transatlantique SA bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $26,000. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca during the 1st quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $29,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 20.35% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on AZN. BNP Paribas began coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $89.00.
Get Our Latest Report on AstraZeneca
AstraZeneca Price Performance
NASDAQ AZN opened at $74.59 on Tuesday. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The stock has a market cap of $231.33 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.36 and a beta of 0.36. The company has a 50-day moving average price of $71.63 and a two-hundred day moving average price of $71.50.
AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting analysts' consensus estimates of $1.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.
AstraZeneca Cuts Dividend
The business also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be paid a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's dividend payout ratio is currently 77.44%.
AstraZeneca Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider AstraZeneca, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AstraZeneca wasn't on the list.
While AstraZeneca currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
