Capital Research Global Investors Raises Stock Holdings in AstraZeneca PLC $AZN

Key Points

• Capital Research Global Investors increased its stake in AstraZeneca by 1.1% in Q3, buying an additional 8,306 shares to hold 785,259 shares valued at about $60.24 million.
• Several large asset managers including Primecap, Franklin, Fisher, Dimensional and Ameriprise also raised positions in AstraZeneca, with institutional investors owning about 20.35% of the stock.
• Analysts' consensus is a “Moderate Buy” (nine Buy ratings, one Sell) with a consensus target price of $95.75, and the company announced a $1.595 dividend payable March 23 (ex-dividend Feb 20).

Capital Research Global Investors grew its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 785,259 shares of the company's stock after buying an additional 8,306 shares during the period. Capital Research Global Investors' holdings in AstraZeneca were worth $60,243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Primecap Management Co. CA raised its stake in AstraZeneca by 1.3% during the 2nd quarter. Primecap Management Co. CA now owns 41,200,091 shares of the company's stock worth $2,879,062,000 after acquiring an additional 538,606 shares during the period. Franklin Resources Inc. boosted its position in shares of AstraZeneca by 0.9% in the second quarter. Franklin Resources Inc. now owns 21,298,394 shares of the company's stock worth $1,488,332,000 after purchasing an additional 196,401 shares during the period. Fisher Asset Management LLC increased its stake in shares of AstraZeneca by 2.3% in the third quarter. Fisher Asset Management LLC now owns 21,162,724 shares of the company's stock worth $1,623,604,000 after purchasing an additional 466,745 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AstraZeneca by 9.4% in the third quarter. Dimensional Fund Advisors LP now owns 6,805,896 shares of the company's stock worth $521,517,000 after purchasing an additional 582,183 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AstraZeneca by 2.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,046,992 shares of the company's stock valued at $351,734,000 after purchasing an additional 104,625 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays restated an "overweight" rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research note on Wednesday, January 21st. Wall Street Zen cut AstraZeneca from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 17th. TD Cowen restated a "buy" rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Finally, Guggenheim reaffirmed a "buy" rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, AstraZeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.75.

AstraZeneca Price Performance

AZN stock opened at $193.09 on Thursday. AstraZeneca PLC has a one year low of $122.48 and a one year high of $212.71. The company's fifty day moving average price is $152.83 and its 200-day moving average price is $108.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. The company has a market capitalization of $299.47 billion, a PE ratio of 64.15, a price-to-earnings-growth ratio of 1.59 and a beta of 0.32.

AstraZeneca Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be issued a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca's payout ratio is 66.26%.

AstraZeneca Company Profile

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden's Astra AB and the UK's Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca's operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

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