Cullinan Associates Inc. Has $561,000 Position in AstraZeneca PLC $AZN

Key Points

• Cullinan Associates Inc. reduced its stake in AstraZeneca PLC by 38.4% in the 2nd quarter, now holding 8,026 shares valued at approximately $561,000.
• Several institutional investors increased their positions, with Larson Financial Group growing its stake by 297.9%, now owning 386 shares valued at $28,000.
• AstraZeneca reported a 16.1% increase in quarterly revenue year-over-year, totaling $14.46 billion, while its earnings per share of $1.09 met consensus expectations.

Cullinan Associates Inc. reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 38.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,026 shares of the company's stock after selling 5,000 shares during the quarter. Cullinan Associates Inc.'s holdings in AstraZeneca were worth $561,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its position in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after buying an additional 289 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. Costello Asset Management INC acquired a new position in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. Highline Wealth Partners LLC grew its position in shares of AstraZeneca by 447.4% in the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after purchasing an additional 340 shares during the period. Finally, Maseco LLP acquired a new position in shares of AstraZeneca in the 2nd quarter valued at approximately $34,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZN. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research report on Saturday, September 27th. Berenberg Bank set a $97.00 price objective on AstraZeneca in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Trading Up 2.0%

NASDAQ AZN opened at $85.31 on Monday. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 1.57 and a beta of 0.36. The stock's 50 day moving average price is $78.04 and its two-hundred day moving average price is $73.05. 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 52 week low of $61.24 and a 52 week high of $85.50.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. The firm 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%.The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. As a group, analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid 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 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.

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