Causeway Capital Management LLC Raises Stock Position in AstraZeneca PLC $AZN

Key Points

• Causeway Capital Management LLC boosted its AstraZeneca stake by 11.9% in Q3, adding 113,923 shares to hold 1,067,371 shares valued at $81,889,000, making AZN its 16th largest position (~1.1% of the firm's holdings).
• AstraZeneca declared a $1.595 dividend payable on March 23, with shareholders of record and the ex-dividend date on February 20.
• Analyst sentiment is generally positive with nine Buy and one Sell rating, leaving a consensus of "Moderate Buy" and an average target price of $95.75.

Causeway Capital Management LLC boosted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 11.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,067,371 shares of the company's stock after purchasing an additional 113,923 shares during the period. AstraZeneca makes up approximately 1.1% of Causeway Capital Management LLC's holdings, making the stock its 16th largest position. Causeway Capital Management LLC's holdings in AstraZeneca were worth $81,889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Investment Management Inc. purchased a new position in shares of AstraZeneca in the 3rd quarter worth $31,000. E Fund Management Hong Kong Co. Ltd. increased its position in AstraZeneca by 144.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock valued at $36,000 after acquiring an additional 275 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in AstraZeneca in the second quarter valued at about $33,000. FSA Wealth Management LLC boosted its position in AstraZeneca by 376.0% in the second quarter. FSA Wealth Management LLC now owns 476 shares of the company's stock worth $33,000 after purchasing an additional 376 shares during the last quarter. Finally, Abound Wealth Management grew its stake in shares of AstraZeneca by 1,767.9% during the 3rd quarter. Abound Wealth Management now owns 523 shares of the company's stock valued at $40,000 after purchasing an additional 495 shares during the period. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Up 0.4%

AZN stock opened at $195.00 on Tuesday. The business's 50-day moving average price is $148.76 and its 200-day moving average price is $107.42. The stock has a market cap of $302.42 billion, a P/E ratio of 64.78, a PEG ratio of 1.59 and a beta of 0.32. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. AstraZeneca PLC has a twelve month low of $122.48 and a twelve month high of $212.71.

AstraZeneca Announces Dividend

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

Wall Street Analyst Weigh In

AZN has been the subject of several research reports. Wall Street Zen lowered shares of AstraZeneca from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 17th. Morgan Stanley restated an "overweight" rating and set a $103.00 target price on shares of AstraZeneca in a research report on Wednesday, December 3rd. Barclays reiterated an "overweight" rating on shares of AstraZeneca in a research report on Tuesday, January 6th. Guggenheim reiterated a "buy" rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Finally, Citigroup started coverage on shares of AstraZeneca in a research report on Tuesday, January 27th. They set a "buy" rating for the company. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, AstraZeneca currently has a consensus rating of "Moderate Buy" and an average target price of $95.75.

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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