Cornell Pochily Investment Advisors Inc. Makes New Investment in AstraZeneca PLC $AZN

Cornell Pochily Investment Advisors Inc. bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,856 shares of the company's stock, valued at approximately $269,000.

A number of other institutional investors have also made changes to their positions in AZN. Goldman Sachs Group Inc. lifted its position in shares of AstraZeneca by 30.9% during the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock worth $1,003,124,000 after purchasing an additional 3,224,251 shares in the last quarter. American Century Companies Inc. lifted its position in shares of AstraZeneca by 406.9% during the first quarter. American Century Companies Inc. now owns 2,020,629 shares of the company's stock worth $148,517,000 after purchasing an additional 1,621,974 shares in the last quarter. Boston Partners lifted its position in shares of AstraZeneca by 35.9% during the first quarter. Boston Partners now owns 5,036,645 shares of the company's stock worth $368,712,000 after purchasing an additional 1,329,166 shares in the last quarter. Deutsche Bank AG lifted its position in shares of AstraZeneca by 650.1% during the first quarter. Deutsche Bank AG now owns 1,234,847 shares of the company's stock worth $90,761,000 after purchasing an additional 1,070,223 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of AstraZeneca by 33.2% during the first quarter. Invesco Ltd. now owns 3,807,522 shares of the company's stock worth $279,853,000 after purchasing an additional 948,659 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Down 0.8%

Shares of NASDAQ:AZN opened at $83.65 on Friday. The company's fifty day moving average is $77.79 and its two-hundred day moving average is $73.04. The stock has a market capitalization of $259.43 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $84.61.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Equities analysts anticipate that AstraZeneca PLC will post 4.51 EPS 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 was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is 37.97%.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca 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.

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