Capital World Investors Purchases 940,062 Shares of Astrazeneca Plc $AZN

Key Points

• Capital World Investors increased its AstraZeneca stake by 612.2% in Q3, adding 940,062 shares to hold 1,093,620 shares valued at about $83.5 million.
• Bank of Montreal also made a large move, buying 2,695,793 shares in Q3 to own 3,478,114 shares (~$266.8 million); overall institutional ownership is 20.35%.
• Analyst coverage is mixed but tilted positive—nine Buys and one Sell produce a consensus rating of “Moderate Buy” (average target $95.75)—and the company declared a dividend of $1.595 per share payable March 23 (ex-dividend Feb 20).

Capital World Investors grew its position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 612.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,093,620 shares of the company's stock after acquiring an additional 940,062 shares during the quarter. Capital World Investors' holdings in Astrazeneca were worth $83,498,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital International Inc. CA increased its position in shares of Astrazeneca by 4.2% in the third quarter. Capital International Inc. CA now owns 448,738 shares of the company's stock valued at $34,427,000 after acquiring an additional 18,059 shares during the last quarter. Causeway Capital Management LLC grew its stake in shares of Astrazeneca by 11.9% in the third quarter. Causeway Capital Management LLC now owns 1,067,371 shares of the company's stock valued at $81,889,000 after buying an additional 113,923 shares in the last quarter. Bank of Montreal Can increased its holdings in Astrazeneca by 344.6% during the third quarter. Bank of Montreal Can now owns 3,478,114 shares of the company's stock worth $266,841,000 after buying an additional 2,695,793 shares during the last quarter. Pinkerton Wealth LLC raised its position in Astrazeneca by 7.5% during the third quarter. Pinkerton Wealth LLC now owns 70,802 shares of the company's stock worth $5,432,000 after acquiring an additional 4,957 shares in the last quarter. Finally, LGT Group Foundation acquired a new stake in Astrazeneca in the third quarter valued at $222,000. 20.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AZN. Morgan Stanley reiterated an "overweight" rating and set a $103.00 target price on shares of Astrazeneca in a research note on Wednesday, December 3rd. TD Cowen restated a "buy" rating on shares of Astrazeneca in a research note on Tuesday, December 9th. HSBC reaffirmed a "buy" rating and set a $108.00 target price on shares of Astrazeneca in a report on Wednesday, December 10th. Wall Street Zen downgraded shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Astrazeneca in a report on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.75.

Astrazeneca Stock Performance

AZN stock opened at $192.05 on Friday. Astrazeneca Plc has a 52 week low of $122.48 and a 52 week high of $212.71. The stock has a market capitalization of $297.85 billion, a P/E ratio of 29.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94.

Astrazeneca Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, February 20th will be given a dividend of $1.595 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a yield of 156.0%. Astrazeneca's dividend payout ratio is currently 66.26%.

Astrazeneca Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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