Cinctive Capital Management LP Boosts Stake in Astrazeneca Plc $AZN

Key Points

• Cinctive Capital Management LP increased its stake in AstraZeneca by 191.9% in Q3, adding 80,547 shares to hold 122,521 shares worth about $9.4 million.
• AstraZeneca announced a dividend of $1.595 per share payable March 23, with record and ex-dividend dates on February 20; the report cites a dividend yield of 156.0% and a payout ratio of 66.26%.
• Shares opened at $190.20, the company has a market cap near $295 billion and a P/E of 29.04, and analysts show a consensus "Moderate Buy" (nine Buys, one Sell) with an average price target of $95.75.

Cinctive Capital Management LP increased its stake in Astrazeneca Plc (NYSE:AZN - Free Report) by 191.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,521 shares of the company's stock after purchasing an additional 80,547 shares during the quarter. Cinctive Capital Management LP's holdings in Astrazeneca were worth $9,400,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AZN. Rakuten Investment Management Inc. purchased a new stake in Astrazeneca in the third quarter worth about $31,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Astrazeneca by 144.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock worth $36,000 after buying an additional 275 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Astrazeneca during the 2nd quarter valued at about $33,000. FSA Wealth Management LLC grew its stake in shares of Astrazeneca by 376.0% during the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company's stock valued at $33,000 after acquiring an additional 376 shares during the period. 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 acquiring an additional 495 shares during the period. Institutional investors own 20.35% of the company's stock.

Astrazeneca Price Performance

Shares of AZN opened at $190.20 on Friday. 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 Plc has a 12-month low of $122.48 and a 12-month high of $212.71. The company has a market cap of $294.98 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 1.43 and a beta of 0.32.

Astrazeneca Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZN. Guggenheim restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, December 3rd. Wall Street Zen lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a research report on Thursday. Citigroup began coverage on shares of Astrazeneca in a research note on Tuesday, January 27th. They issued a "buy" rating for the company. Weiss Ratings began coverage on shares of Astrazeneca in a research report on Wednesday. They set a "buy (b)" rating on the stock. Finally, Morgan Stanley restated an "overweight" rating and set a $103.00 target price on shares of Astrazeneca in a research note 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 company. Based on data from MarketBeat.com, Astrazeneca currently has a consensus rating of "Moderate Buy" and an average price target of $95.75.

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.

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