Canandaigua National Bank & Trust Co. Has $1.38 Million Stake in AstraZeneca PLC $AZN

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in AstraZeneca PLC by 19.7%, owning 19,804 shares valued at approximately $1.38 million.
• AstraZeneca reported strong second-quarter earnings, achieving $1.09 earnings per share and a revenue of $14.46 billion, surpassing analysts' expectations.
• Despite positive earnings, AstraZeneca's stock has decreased by 1.9% recently, with a current market price around $78.05.

Canandaigua National Bank & Trust Co. raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 19.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,804 shares of the company's stock after buying an additional 3,260 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in AstraZeneca were worth $1,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZN. Brighton Jones LLC boosted its stake in AstraZeneca by 93.2% in the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after purchasing an additional 2,789 shares during the period. American Assets Inc. acquired a new position in AstraZeneca in the 4th quarter worth approximately $426,000. NorthRock Partners LLC boosted its stake in AstraZeneca by 16.4% in the 4th quarter. NorthRock Partners LLC now owns 3,192 shares of the company's stock worth $209,000 after purchasing an additional 450 shares during the period. Toronto Dominion Bank boosted its stake in AstraZeneca by 51.0% in the 4th quarter. Toronto Dominion Bank now owns 27,080 shares of the company's stock worth $1,774,000 after purchasing an additional 9,151 shares during the period. Finally, Tidal Investments LLC boosted its stake in AstraZeneca by 9.6% in the 4th quarter. Tidal Investments LLC now owns 7,284 shares of the company's stock worth $477,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, AstraZeneca presently has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Stock Down 1.0%

Shares of AstraZeneca stock traded down $0.79 during midday trading on Friday, reaching $76.28. 6,594,147 shares of the company's stock traded hands, compared to its average volume of 5,097,551. The company has a market cap of $236.57 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.37. The company's 50 day simple moving average is $76.51 and its 200 day simple moving average is $73.01. 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 PLC has a 52 week low of $61.24 and a 52 week high of $82.41.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting analysts' consensus estimates of $1.09. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.24 EPS. Equities analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were issued a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date was 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.