Central Pacific Bank Trust Division Takes $952,000 Position in Astrazeneca Plc $AZN

Key Points

• Central Pacific Bank Trust Division purchased a new position in AstraZeneca (NYSE:AZN) in Q4, acquiring 10,359 shares valued at approximately $952,000.
• Several large institutions—Bank of Montreal, Fayez Sarofim, Holocene Advisors, Raymond James and Bank of America—substantially increased their AZN holdings, leaving institutional investors with about 20.35% ownership.
• Analysts are largely positive on AZN, with a consensus rating of "Moderate Buy" and an average price target of $95.75 (nine Buy ratings vs. one Sell).

Central Pacific Bank Trust Division purchased a new position in Astrazeneca Plc (NYSE:AZN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,359 shares of the company's stock, valued at approximately $952,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised its stake in Astrazeneca by 344.6% in 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 in the last quarter. Fayez Sarofim & Co boosted its position in Astrazeneca by 173.4% during the 2nd quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company's stock valued at $261,764,000 after acquiring an additional 2,376,032 shares in the last quarter. Holocene Advisors LP increased its holdings in shares of Astrazeneca by 41.8% in the 3rd quarter. Holocene Advisors LP now owns 6,129,194 shares of the company's stock valued at $470,232,000 after acquiring an additional 1,807,565 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Astrazeneca by 64.8% in the 2nd quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company's stock valued at $264,373,000 after acquiring an additional 1,487,662 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Astrazeneca by 4.7% in the 3rd quarter. Bank of America Corp DE now owns 32,633,139 shares of the company's stock worth $2,503,614,000 after acquiring an additional 1,461,786 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AZN shares. Barclays restated an "overweight" rating on shares of Astrazeneca in a research note on Tuesday, January 6th. Weiss Ratings assumed coverage on shares of Astrazeneca in a report on Wednesday, March 11th. They issued a "buy (b)" rating for the company. Guggenheim reissued a "buy" rating on shares of Astrazeneca in a research report on Wednesday, December 3rd. Citigroup assumed coverage on shares of Astrazeneca in a report on Tuesday, January 27th. They issued a "buy" rating on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $103.00 price objective on shares of Astrazeneca in a research report on Wednesday, December 3rd. Nine equities 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 stock has a consensus rating of "Moderate Buy" and an average price target of $95.75.

Astrazeneca Stock Performance

Shares of AZN stock opened at $183.40 on Friday. Astrazeneca Plc has a 1-year low of $122.48 and a 1-year high of $212.71. The firm has a market cap of $284.44 billion, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.38 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Investors 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 of this dividend is Friday, February 20th. Astrazeneca's dividend payout ratio (DPR) is presently 66.26%.

Astrazeneca Company 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.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astrazeneca Plc (NYSE:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.