Cetera Investment Advisers Acquires 56,449 Shares of AstraZeneca PLC (NASDAQ:AZN)

Cetera Investment Advisers grew its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 29.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,195 shares of the company's stock after acquiring an additional 56,449 shares during the quarter. Cetera Investment Advisers' holdings in AstraZeneca were worth $18,463,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Confluence Investment Management LLC acquired a new position in AstraZeneca during the 1st quarter worth $27,000. Larson Financial Group LLC increased its holdings in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after acquiring an additional 289 shares during the period. FNY Investment Advisers LLC bought a new position in AstraZeneca in the 1st quarter worth about $29,000. Banque Transatlantique SA bought a new position in AstraZeneca in the 4th quarter worth approximately $26,000. Finally, Highline Wealth Partners LLC increased its position in AstraZeneca by 447.4% in the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after acquiring an additional 340 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 0.8%

Shares of AstraZeneca stock traded up $0.60 during trading on Friday, hitting $73.69. The stock had a trading volume of 7,242,413 shares, compared to its average volume of 5,406,167. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $228.52 billion, a PE ratio of 27.70, a P/E/G ratio of 1.41 and a beta of 0.37. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The stock has a 50 day simple moving average of $71.48 and a 200 day simple moving average of $71.31.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. The company 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%. The company's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 EPS. On average, research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be given a dividend of $0.505 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is presently 37.97%.

Analyst Ratings Changes

AZN has been the topic of several recent analyst reports. Berenberg Bank set a $97.00 target price on AstraZeneca in a report on Wednesday, July 9th. BNP Paribas began coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

About AstraZeneca

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.