Callan Family Office LLC Sells 3,721 Shares of AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Callan Family Office LLC reduced its stake in AstraZeneca PLC by 16.2%, now holding 19,249 shares valued at approximately $1.4 million.
• AstraZeneca's stock currently has a consensus target price of $86.00, with some analysts setting targets as high as $97.00.
• The company reported earnings of $1.09 per share for the last quarter, matching analysts' expectations, and had a revenue increase of 16.1% year-over-year.

Callan Family Office LLC trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 16.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,249 shares of the company's stock after selling 3,721 shares during the period. Callan Family Office LLC's holdings in AstraZeneca were worth $1,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Confluence Investment Management LLC purchased a new stake in AstraZeneca during the first quarter valued at approximately $27,000. Larson Financial Group LLC increased 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 buying an additional 289 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC bought a new position in shares of AstraZeneca in the first quarter worth approximately $29,000. Finally, Banque Transatlantique SA bought a new position in shares of AstraZeneca in the fourth quarter worth approximately $26,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.9%

Shares of AZN traded up $0.70 during midday trading on Friday, hitting $79.17. The stock had a trading volume of 4,760,279 shares, compared to its average volume of 5,576,905. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The firm has a market cap of $245.54 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 1.46 and a beta of 0.36. 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 stock's 50 day moving average is $72.32 and its 200 day moving average is $71.91.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter last year, the firm posted $1.24 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, 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. This represents a yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's dividend payout ratio is presently 37.97%.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

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.