AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has reduced its stake in AstraZeneca PLC by 62.4%, now holding approximately 1.37 million shares worth $100.7 million after selling over 2.27 million shares in Q1.
• AstraZeneca's recent quarterly earnings report showed $1.09 EPS, matching estimates, and revenue of $14.46 billion, exceeding the consensus of $14.08 billion, reflecting a 16.1% year-over-year increase.
• Analyst ratings for AstraZeneca indicate a Moderate Buy with an average target price of $89.00, with six analysts giving buy ratings and one holding the stock.

Fayez Sarofim & Co lessened its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 62.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,369,870 shares of the company's stock after selling 2,273,140 shares during the period. Fayez Sarofim & Co's holdings in AstraZeneca were worth $100,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lindbrook Capital LLC raised its holdings in shares of AstraZeneca by 1.9% during the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock worth $557,000 after acquiring an additional 141 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of AstraZeneca by 0.5% during the first quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock worth $2,062,000 after acquiring an additional 142 shares in the last quarter. Sage Mountain Advisors LLC increased its position in AstraZeneca by 3.4% during the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock worth $329,000 after buying an additional 147 shares during the last quarter. CoreCap Advisors LLC increased its position in AstraZeneca by 31.8% during the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock worth $42,000 after buying an additional 155 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in AstraZeneca by 2.0% during the first quarter. Oakworth Capital Inc. now owns 8,575 shares of the company's stock worth $630,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

AZN has been the topic of several analyst reports. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research report on Wednesday, July 9th. BNP Paribas initiated coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $89.00.

AstraZeneca Trading Down 1.2%

Shares of NASDAQ:AZN opened at $73.60 on Thursday. The company has a market cap of $228.26 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.37 and a beta of 0.36. The stock's 50-day moving average is $71.77 and its 200-day moving average is $71.53. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $87.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

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

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given 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 (DPR) is currently 77.44%.

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.

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