Concurrent Investment Advisors LLC Grows Stock Holdings in AstraZeneca PLC $AZN

Key Points

• Concurrent Investment Advisors LLC increased its stake in AstraZeneca PLC by 13.5% in Q2, owning a total of 36,442 shares valued at approximately $2.5 million.
• AstraZeneca reported $1.09 earnings per share for the quarter, meeting analysts' expectations, with revenues increasing by 16.1% compared to the same period last year.
• The company recently set a dividend yield of 200.0%, although analysts predict a challenging future, with a consensus price target of $86.00.

Concurrent Investment Advisors LLC grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,442 shares of the company's stock after purchasing an additional 4,328 shares during the period. Concurrent Investment Advisors LLC's holdings in AstraZeneca were worth $2,547,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its holdings in shares of AstraZeneca by 58.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after purchasing an additional 4,811 shares during the last quarter. Robbins Farley purchased a new position in AstraZeneca in the 2nd quarter worth approximately $1,857,000. SCS Capital Management LLC purchased a new position in AstraZeneca in the 1st quarter worth approximately $3,066,000. Oliver Luxxe Assets LLC raised its holdings in AstraZeneca by 6.0% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock worth $5,472,000 after acquiring an additional 4,449 shares during the last quarter. Finally, Alhambra Investment Management LLC purchased a new position in AstraZeneca in the 2nd quarter worth approximately $320,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.7%

Shares of AZN stock opened at $85.12 on Wednesday. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $86.57. The firm has a fifty day moving average price of $79.59 and a 200-day moving average price of $73.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The company has a market cap of $263.99 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.55 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, equities analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

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.

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