Dakota Wealth Management Reduces Stock Position in AstraZeneca PLC $AZN

Key Points

• Dakota Wealth Management reduced its stake in AstraZeneca by 23.7%, selling 4,248 shares, leaving it with 13,667 shares worth approximately $955,000.
• Other large investors, such as Goldman Sachs and Boston Partners, have increased their holdings, showing significant investor interest in AstraZeneca.
• Analysts project a growth trend, with a consensus price target of $86.00 and a rating of “Moderate Buy” for AstraZeneca shares.

Dakota Wealth Management reduced its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 23.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,667 shares of the company's stock after selling 4,248 shares during the period. Dakota Wealth Management's holdings in AstraZeneca were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in shares of AstraZeneca by 30.9% during the 1st 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 during the period. Boston Partners boosted its stake in shares of AstraZeneca by 35.9% during the 1st 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 during the period. Ameriprise Financial Inc. boosted its stake in shares of AstraZeneca by 5.6% during the 1st quarter. Ameriprise Financial Inc. now owns 4,942,367 shares of the company's stock worth $364,283,000 after purchasing an additional 261,064 shares during the period. Swedbank AB boosted its stake in shares of AstraZeneca by 20.8% during the 2nd quarter. Swedbank AB now owns 4,077,554 shares of the company's stock worth $284,939,000 after purchasing an additional 701,779 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of AstraZeneca by 7.3% during the 1st quarter. WCM Investment Management LLC now owns 4,003,070 shares of the company's stock worth $295,387,000 after purchasing an additional 272,537 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

AstraZeneca Trading Up 0.3%

Shares of AZN opened at $73.76 on Friday. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $82.41. The company has a 50-day moving average of $77.13 and a 200 day moving average of $72.94. The firm has a market capitalization of $228.76 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.36 and a beta of 0.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share 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 company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same quarter last year, the business posted $1.24 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

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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