Cinctive Capital Management LP Grows Stock Position in AstraZeneca PLC $AZN

Key Points

• Cinctive Capital Management LP increased its position in AstraZeneca PLC by 4.5%, acquiring an additional 3,793 shares, bringing its total holdings to 88,446 shares worth approximately $6.5 million.
• AstraZeneca's stock has shown a 2.4% increase recently, with a current trading value of $82.11 and a market capitalization of $254.65 billion.
• The company reported earnings of $1.09 EPS for the last quarter, meeting analysts' expectations while showing a revenue increase of 16.1% year-over-year, totaling $14.46 billion.

Cinctive Capital Management LP boosted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 88,446 shares of the company's stock after acquiring an additional 3,793 shares during the quarter. Cinctive Capital Management LP's holdings in AstraZeneca were worth $6,501,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock valued at $379,000 after acquiring an additional 2,789 shares during the last quarter. American Assets Inc. acquired a new stake in AstraZeneca in the 4th quarter valued at about $426,000. Aptus Capital Advisors LLC lifted its stake in AstraZeneca by 143.4% in the 4th quarter. Aptus Capital Advisors LLC now owns 6,342 shares of the company's stock worth $416,000 after purchasing an additional 3,736 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of AstraZeneca by 6.3% during the 4th quarter. Baird Financial Group Inc. now owns 264,741 shares of the company's stock worth $17,346,000 after purchasing an additional 15,723 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of AstraZeneca in the fourth quarter valued at approximately $440,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Stock Down 0.4%

Shares of AZN stock traded down $0.33 on Tuesday, reaching $81.23. 1,357,977 shares of the stock were exchanged, compared to its average volume of 5,136,317. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. The company has a market capitalization of $251.94 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.50 and a beta of 0.37. The business's 50 day moving average price is $75.13 and its 200 day moving average price is $72.78.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The business's quarterly 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. As a group, sell-side analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were given a $0.505 dividend. The ex-dividend date was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's dividend payout ratio is presently 37.97%.

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.