Azimuth Capital Investment Management LLC cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 8.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 109,965 shares of the company's stock after selling 9,610 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in AstraZeneca were worth $8,082,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Fox Run Management L.L.C. lifted its holdings in shares of AstraZeneca by 10.1% during the 1st quarter. Fox Run Management L.L.C. now owns 24,890 shares of the company's stock valued at $1,829,000 after buying an additional 2,276 shares during the last quarter. FCA Corp TX acquired a new stake in shares of AstraZeneca during the 1st quarter valued at about $551,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of AstraZeneca by 2.9% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 18,320 shares of the company's stock valued at $1,346,000 after buying an additional 521 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its holdings in shares of AstraZeneca by 7.4% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 3,633 shares of the company's stock valued at $267,000 after buying an additional 249 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in shares of AstraZeneca by 122.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 68,040 shares of the company's stock valued at $5,001,000 after buying an additional 37,458 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, AstraZeneca presently has an average rating of "Moderate Buy" and an average price target of $86.00.
Get Our Latest Analysis on AZN
AstraZeneca Stock Performance
Shares of AZN stock traded up $0.42 during trading hours on Tuesday, reaching $79.54. 3,682,277 shares of the company's stock were exchanged, compared to its average volume of 5,294,896. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The stock has a market capitalization of $246.68 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.46 and a beta of 0.36. The business has a fifty day moving average price of $72.44 and a 200-day moving average price of $71.97. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.
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 analysts' consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. Analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.
AstraZeneca Cuts Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given a dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's payout ratio is currently 37.97%.
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.
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