D.B. Root & Company LLC Cuts Stake in AstraZeneca PLC $AZN

Key Points

• D.B. Root & Company LLC has reduced its stake in AstraZeneca PLC by 52.5%, owning 4,301 shares worth $301,000 as of the latest SEC filing.
• AstraZeneca recently reported quarterly earnings meeting expectations, with revenue up 16.1% year-over-year at $14.46 billion, and an earnings per share of $1.09.
• Institutional investors currently own 20.35% of AstraZeneca's stock, while analysts maintain a Moderate Buy rating with a target price of $86.00.

D.B. Root & Company LLC lowered its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 52.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,301 shares of the company's stock after selling 4,754 shares during the period. D.B. Root & Company LLC's holdings in AstraZeneca were worth $301,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC grew its stake 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 buying an additional 4,811 shares during the last quarter. SCS Capital Management LLC purchased a new stake in AstraZeneca during the 1st quarter valued at about $3,066,000. Robbins Farley bought a new position in AstraZeneca during the 2nd quarter worth approximately $1,857,000. Farther Finance Advisors LLC increased its stake in AstraZeneca by 13.1% in the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after purchasing an additional 706 shares during the period. Finally, Oliver Luxxe Assets LLC lifted its position in AstraZeneca by 6.0% in the second quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock valued at $5,472,000 after purchasing an additional 4,449 shares during the last quarter. 20.35% of the stock is owned by institutional investors.

AstraZeneca Price Performance

AZN opened at $85.49 on Tuesday. The stock's 50 day moving average price is $78.32 and its 200-day moving average price is $73.12. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $86.57. The stock has a market capitalization of $265.14 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 1.57 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 (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. During the same quarter in the previous year, the business posted $1.24 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

AZN has been the topic of several recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a report on Saturday, September 27th. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a 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.com, AstraZeneca presently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

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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