Commonwealth Equity Services LLC Grows Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Commonwealth Equity Services LLC has increased its stake in AstraZeneca PLC by 8.0%, owning 207,843 shares valued at approximately $15.3 million as of the end of the 1st quarter.
• AstraZeneca reported a quarterly revenue of $14.46 billion, exceeding analyst estimates, with a 12-month high stock price of $87.68.
• Brokerages maintain a consensus rating of "Moderate Buy" for AstraZeneca, with price targets ranging from $75.00 to $97.00.

Commonwealth Equity Services LLC increased its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 8.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,843 shares of the company's stock after acquiring an additional 15,410 shares during the period. Commonwealth Equity Services LLC's holdings in AstraZeneca were worth $15,276,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AZN. Allianz SE bought a new position in AstraZeneca during the 1st quarter worth $213,000. Avalon Trust Co grew its holdings in shares of AstraZeneca by 153.1% during the 1st quarter. Avalon Trust Co now owns 886 shares of the company's stock worth $65,000 after purchasing an additional 536 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of AstraZeneca by 30.9% during the 1st quarter. Scotia Capital Inc. now owns 303,485 shares of the company's stock worth $22,306,000 after purchasing an additional 71,688 shares in the last quarter. DCF Advisers LLC bought a new position in shares of AstraZeneca in the 1st quarter valued at $3,366,000. Finally, Bank of Nova Scotia increased its stake in shares of AstraZeneca by 55.1% in the 1st quarter. Bank of Nova Scotia now owns 7,386 shares of the company's stock valued at $543,000 after purchasing an additional 2,625 shares during the last quarter. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Up 1.1%

AZN stock traded up $0.79 during trading on Tuesday, reaching $74.86. 1,147,373 shares of the stock were exchanged, compared to its average volume of 5,318,730. The firm's 50 day moving average is $71.90 and its 200 day moving average is $71.71. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The firm has a market cap of $232.15 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.35 and a beta of 0.36.

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 analysts' expectations of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. AstraZeneca's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZN. BNP Paribas began coverage on AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target on the stock. Berenberg Bank set a $97.00 target price on AstraZeneca in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.