Banque Transatlantique SA Grows Stock Holdings in AstraZeneca PLC $AZN

Key Points

• Banque Transatlantique SA significantly increased its stake in AstraZeneca by 35,291.5% during the 1st quarter, now owning 142,274 shares valued at $9.66 million.
• AstraZeneca reported $1.09 earnings per share, matching analysts' expectations, with revenue of $14.46 billion for the quarter, a 16.1% increase from the previous year.
• The company announced a semi-annual dividend of $0.505 per share, reflecting a dividend yield of 200.0% with a payout ratio of 37.97%.

Banque Transatlantique SA raised its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 35,291.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 142,274 shares of the company's stock after purchasing an additional 141,872 shares during the period. Banque Transatlantique SA's holdings in AstraZeneca were worth $9,664,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new position in AstraZeneca during the 1st quarter valued at about $27,000. Larson Financial Group LLC boosted its stake in AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in AstraZeneca during the 1st quarter valued at about $29,000. Costello Asset Management INC acquired a new position in AstraZeneca during the 1st quarter valued at about $29,000. Finally, Highline Wealth Partners LLC boosted its stake in AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after purchasing an additional 340 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

NASDAQ:AZN traded down $0.08 during midday trading on Friday, hitting $81.70. The company had a trading volume of 2,464,382 shares, compared to its average volume of 3,602,865. 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 PLC has a 52-week low of $61.24 and a 52-week high of $84.30. The stock's fifty day moving average price is $74.90 and its 200-day moving average price is $72.74. The company has a market capitalization of $253.38 billion, a PE ratio of 30.71, a P/E/G ratio of 1.50 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting analysts' consensus estimates of $1.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. AstraZeneca's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. As a group, research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be issued a $0.505 dividend. The ex-dividend date is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is 37.97%.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 target price on AstraZeneca in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.