Channel Wealth LLC Sells 10,555 Shares of Astrazeneca Plc $AZN

Key Points

• Channel Wealth LLC reduced its AstraZeneca stake by 18% in the fourth quarter, selling 10,555 shares and leaving it with 47,953 shares worth about $8.4 million.
• Wall Street sentiment is largely positive, with Barclays and Wall Street Zen both upgrading AZN to buy; overall, 12 analysts rate it a Buy and the consensus target price is $205.33.
• AstraZeneca beat quarterly expectations by reporting EPS of $2.58 versus $2.52 expected and revenue of $15.29 billion versus $14.93 billion estimated, while also maintaining a strong profit margin profile.

Channel Wealth LLC lessened its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 18.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,953 shares of the company's stock after selling 10,555 shares during the period. Astrazeneca makes up approximately 2.1% of Channel Wealth LLC's portfolio, making the stock its 12th biggest holding. Channel Wealth LLC's holdings in Astrazeneca were worth $8,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AZN. Bangor Savings Bank raised its stake in shares of Astrazeneca by 102.7% during the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock worth $28,000 after purchasing an additional 154 shares during the period. Eagle Bay Advisors LLC bought a new position in Astrazeneca during the fourth quarter valued at about $30,000. Triumph Capital Management purchased a new stake in Astrazeneca during the third quarter worth about $25,000. YANKCOM Partnership bought a new stake in Astrazeneca in the fourth quarter worth about $31,000. Finally, TFC Financial Management Inc. boosted its stake in Astrazeneca by 3,350.0% in the fourth quarter. TFC Financial Management Inc. now owns 345 shares of the company's stock valued at $32,000 after acquiring an additional 335 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AZN shares. Barclays upgraded shares of Astrazeneca from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen raised Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Sanford C. Bernstein reissued a "buy" rating on shares of Astrazeneca in a report on Monday, May 4th. TD Cowen reissued a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.33.

Astrazeneca Price Performance

AZN stock opened at $182.71 on Friday. The firm has a market capitalization of $283.37 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.26. Astrazeneca Plc has a 12 month low of $132.32 and a 12 month high of $212.71. The firm has a 50 day moving average of $194.66 and a 200-day moving average of $180.88. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. The company had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, sell-side analysts predict that Astrazeneca Plc will post 10.26 earnings per share for the current fiscal year.

Astrazeneca Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were paid a dividend of $1.595 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a yield of 156.0%. Astrazeneca's dividend payout ratio (DPR) is currently 65.17%.

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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