Boston Partners Increases Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Boston Partners increased its stake in AstraZeneca PLC by 35.9%, acquiring an additional 1,329,166 shares, bringing its total holdings to over 5 million shares worth approximately $368.7 million.
• Other institutional investors have also increased their positions in AstraZeneca, with Bank of America Corp DE raising its stake by 189.3% while holding 24 million shares valued at around $1.57 billion.
• AstraZeneca recently reported a 16.1% increase in revenue, totaling $14.46 billion for the quarter, matching the earnings per share consensus estimate of $1.09.

Boston Partners grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 35.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,036,645 shares of the company's stock after buying an additional 1,329,166 shares during the quarter. Boston Partners owned 0.16% of AstraZeneca worth $368,712,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. E Fund Management Co. Ltd. grew its stake in shares of AstraZeneca by 114.7% during the first quarter. E Fund Management Co. Ltd. now owns 14,854 shares of the company's stock valued at $1,092,000 after buying an additional 7,934 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of AstraZeneca during the first quarter valued at approximately $37,000. Triglav Skladi D.O.O. grew its stake in AstraZeneca by 7.6% in the first quarter. Triglav Skladi D.O.O. now owns 90,136 shares of the company's stock worth $6,624,000 after purchasing an additional 6,394 shares in the last quarter. Russell Investments Group Ltd. grew its stake in AstraZeneca by 3.4% in the first quarter. Russell Investments Group Ltd. now owns 922,330 shares of the company's stock worth $67,791,000 after purchasing an additional 30,472 shares in the last quarter. Finally, Tlwm grew its stake in AstraZeneca by 3.5% in the first quarter. Tlwm now owns 17,259 shares of the company's stock worth $1,269,000 after purchasing an additional 578 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. One equities 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca Price Performance

Shares of NASDAQ:AZN traded up $0.70 during trading on Friday, reaching $79.17. 4,760,279 shares of the company's stock traded hands, compared to its average volume of 5,576,905. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a market cap of $245.54 billion, a PE ratio of 29.76, a P/E/G ratio of 1.46 and a beta of 0.36. The company has a 50-day simple moving average of $72.32 and a 200-day simple moving average of $71.91.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting analysts' consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. During the same period last year, the firm earned $1.24 EPS. The company's quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current 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 paid a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is 37.97%.

AstraZeneca 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.