E Fund Management Co. Ltd. Purchases 7,934 Shares of AstraZeneca PLC $AZN

Key Points

• E Fund Management Co. Ltd. increased its stake in AstraZeneca PLC by 114.7% in the first quarter, owning 14,854 shares valued at approximately $1.09 million after purchasing an additional 7,934 shares.
• AstraZeneca's recent quarterly earnings met expectations with an EPS of $1.09 and a revenue of $14.46 billion, marking a 16.1% increase year-over-year.
• Analysts forecast a target price of $86.00 for AstraZeneca, with the stock currently rated as a "Moderate Buy" by several analysts.

E Fund Management Co. Ltd. lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 114.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,854 shares of the company's stock after acquiring an additional 7,934 shares during the period. E Fund Management Co. Ltd.'s holdings in AstraZeneca were worth $1,092,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Confluence Investment Management LLC acquired a new stake in shares of AstraZeneca during the 1st quarter worth about $27,000. Larson Financial Group LLC increased its position in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 289 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in AstraZeneca in the 1st quarter valued at about $29,000. Costello Asset Management INC acquired a new stake in AstraZeneca in the 1st quarter valued at about $29,000. Finally, Banque Transatlantique SA acquired a new stake in AstraZeneca in the 4th quarter valued at about $26,000. 20.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

AstraZeneca Trading Down 0.1%

Shares of NASDAQ:AZN traded down $0.05 during trading on Monday, hitting $79.12. 3,017,672 shares of the company's stock were exchanged, compared to its average volume of 5,312,464. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The firm has a 50-day moving average price of $72.32 and a two-hundred day moving average price of $71.91. 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 firm has a market cap of $245.38 billion, a P/E ratio of 29.74, a PEG ratio of 1.46 and a beta of 0.36.

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

AstraZeneca Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be paid 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 dividend payout ratio (DPR) is presently 37.97%.

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.