AstraZeneca PLC $AZN Shares Acquired by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. significantly increased its stake in AstraZeneca PLC by 3,793.4%, acquiring 381,122 additional shares and bringing total holdings to 391,169 shares valued at $28.75 million.
• AstraZeneca reported a revenue increase of 16.1% year-over-year, reaching $14.46 billion, while earnings per share met analyst expectations at $1.09.
• The company has declared a semi-annual dividend of $0.505 with a dividend yield of 200.0%, set to be paid on September 8th.

Clark Capital Management Group Inc. lifted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 3,793.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 391,169 shares of the company's stock after buying an additional 381,122 shares during the quarter. Clark Capital Management Group Inc.'s holdings in AstraZeneca were worth $28,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AZN. Confluence Investment Management LLC bought a new position in shares of AstraZeneca in the first quarter worth about $27,000. Larson Financial Group LLC raised its stake in AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. bought a new stake in AstraZeneca during the 4th quarter valued at approximately $29,000. FNY Investment Advisers LLC bought a new stake in AstraZeneca in the 1st quarter worth approximately $29,000. Finally, Costello Asset Management INC bought a new stake in AstraZeneca in the 1st quarter worth approximately $29,000. Institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

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

AstraZeneca Stock Down 0.5%

Shares of NASDAQ AZN traded down $0.38 during mid-day trading on Wednesday, reaching $80.84. 939,309 shares of the company were exchanged, compared to its average volume of 5,117,366. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock has a market cap of $250.71 billion, a price-to-earnings ratio of 30.38, a P/E/G ratio of 1.50 and a beta of 0.37. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $82.41. The firm has a 50-day moving average of $75.33 and a 200 day moving average of $72.84.

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 analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. On average, research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were issued a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

AstraZeneca Company Profile

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.