Thornburg Investment Management Inc. Increases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Thornburg Investment Management Inc. increased its stake in AstraZeneca PLC by 2.3%, owning 517,087 shares valued at approximately $38 million at the end of the last quarter.
• Several analysts have recently issued new price targets for AstraZeneca, with the consensus rating categorized as "Moderate Buy" and an average target price of $89.00.
• AstraZeneca's recent quarterly earnings report showed a miss on EPS estimates, reporting $1.09 compared to the expected $1.11, along with a return on equity of 33.14%.

Thornburg Investment Management Inc. grew its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 517,087 shares of the company's stock after acquiring an additional 11,565 shares during the quarter. Thornburg Investment Management Inc.'s holdings in AstraZeneca were worth $38,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AZN. Lindbrook Capital LLC raised its holdings in shares of AstraZeneca by 1.9% in the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock valued at $557,000 after purchasing an additional 141 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of AstraZeneca by 0.5% in the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock valued at $2,062,000 after purchasing an additional 142 shares in the last quarter. Sage Mountain Advisors LLC boosted its holdings in shares of AstraZeneca by 3.4% in the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock valued at $329,000 after buying an additional 147 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of AstraZeneca by 31.8% in the 4th quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after buying an additional 155 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its holdings in shares of AstraZeneca by 2.0% in the 1st quarter. Oakworth Capital Inc. now owns 8,575 shares of the company's stock valued at $630,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

NASDAQ AZN traded up $0.86 on Friday, hitting $73.95. The company had a trading volume of 9,725,399 shares, compared to its average volume of 5,423,714. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a market capitalization of $229.34 billion, a PE ratio of 27.80, a PEG ratio of 1.41 and a beta of 0.37. The company's fifty day moving average price is $71.48 and its 200-day moving average price is $71.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, 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 issued a $0.505 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio is currently 37.97%.

Analyst Ratings Changes

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

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.