Burling Wealth Partners LLC Decreases Stake in AstraZeneca PLC (NASDAQ:AZN)

Burling Wealth Partners LLC decreased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,162 shares of the company's stock after selling 12,301 shares during the quarter. Burling Wealth Partners LLC's holdings in AstraZeneca were worth $3,466,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AZN. Banque Transatlantique SA acquired a new position in shares of AstraZeneca in the fourth quarter valued at approximately $26,000. Confluence Investment Management LLC bought a new stake in AstraZeneca in the first quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in AstraZeneca in the fourth quarter valued at approximately $29,000. Finally, FNY Investment Advisers LLC bought a new stake in AstraZeneca in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AZN. BNP Paribas began coverage on AstraZeneca in a report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price on the stock. Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, AstraZeneca presently has an average rating of "Moderate Buy" and a consensus price target of $89.00.

AstraZeneca Stock Down 0.7%

Shares of AZN traded down $0.47 during trading hours on Friday, reaching $68.79. The stock had a trading volume of 2,991,789 shares, compared to its average volume of 5,268,369. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The firm has a 50-day simple moving average of $70.75 and a 200 day simple moving average of $70.90. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $213.34 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.29 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. AstraZeneca's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. Equities research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

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.