Cresset Asset Management LLC Lowers Holdings in AstraZeneca PLC $AZN

Key Points

• Cresset Asset Management trimmed its stake in AstraZeneca by 25.8% in Q3, selling 5,632 shares and leaving it with 16,232 shares valued at $1.245 million.
• Several other institutions (including CIBC World Market, TD Asset Management and Oxbow Advisors) materially increased their AZN positions in Q3, and the article states overall institutional ownership is 20.35%.
• AstraZeneca declared a dividend of $1.595 per share payable on March 23 with a record date of February 20; the article reports this represents a 156.0% yield.

Cresset Asset Management LLC trimmed its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 25.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,232 shares of the company's stock after selling 5,632 shares during the quarter. Cresset Asset Management LLC's holdings in AstraZeneca were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. increased its position in shares of AstraZeneca by 21.5% during the third quarter. Cibc World Market Inc. now owns 64,421 shares of the company's stock valued at $4,942,000 after acquiring an additional 11,398 shares in the last quarter. TD Asset Management Inc raised its holdings in AstraZeneca by 20.0% in the 3rd quarter. TD Asset Management Inc now owns 1,089,612 shares of the company's stock worth $83,595,000 after acquiring an additional 181,273 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in AstraZeneca by 111.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 66,643 shares of the company's stock valued at $5,113,000 after acquiring an additional 35,148 shares in the last quarter. AMG National Trust Bank boosted its stake in AstraZeneca by 20.4% during the 3rd quarter. AMG National Trust Bank now owns 42,983 shares of the company's stock valued at $3,298,000 after purchasing an additional 7,289 shares during the last quarter. Finally, Oxbow Advisors LLC boosted its stake in AstraZeneca by 96.2% during the 3rd quarter. Oxbow Advisors LLC now owns 77,594 shares of the company's stock valued at $5,953,000 after purchasing an additional 38,043 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Performance

AZN stock opened at $195.00 on Tuesday. The company has a market cap of $302.42 billion, a P/E ratio of 64.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.32. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69. The stock's fifty day moving average price is $148.76 and its 200-day moving average price is $107.42.

AstraZeneca Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be paid a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date is Friday, February 20th. AstraZeneca's payout ratio is currently 66.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AZN shares. Barclays restated an "overweight" rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Guggenheim reiterated a "buy" rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of AstraZeneca in a research report on Wednesday, January 21st. TD Cowen restated a "buy" rating on shares of AstraZeneca in a research note on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of AstraZeneca in a report on Friday, February 6th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $95.75.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden's Astra AB and the UK's Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca's operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

Want to see what other hedge funds are holding AZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AstraZeneca PLC (NASDAQ:AZN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.