DCF Advisers LLC Invests $3.37 Million in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• DCF Advisers LLC invested approximately $3.37 million in AstraZeneca PLC, acquiring 45,800 shares, making it the firm’s 19th largest holding.
• Several institutional investors, including Bank of America and Point72 Asset Management, significantly increased their positions in AstraZeneca during the last quarter.
• AstraZeneca recently reported a 16.1% revenue increase year-over-year, with a quarterly revenue of $14.46 billion, meeting analyst expectations.

DCF Advisers LLC purchased a new position in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,800 shares of the company's stock, valued at approximately $3,366,000. AstraZeneca makes up about 1.6% of DCF Advisers LLC's investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds have also made changes to their positions in AZN. Bank of America Corp DE raised its position in AstraZeneca by 189.3% during the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after acquiring an additional 15,722,197 shares in the last quarter. Marshall Wace LLP bought a new position in AstraZeneca during the fourth quarter valued at approximately $254,018,000. Alyeska Investment Group L.P. raised its position in AstraZeneca by 220.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock valued at $198,363,000 after acquiring an additional 2,083,645 shares in the last quarter. Point72 Asset Management L.P. raised its position in AstraZeneca by 815.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,073,630 shares of the company's stock valued at $70,344,000 after acquiring an additional 1,223,630 shares in the last quarter. Finally, Phoenix Financial Ltd. raised its position in AstraZeneca by 1,624.6% during the fourth quarter. Phoenix Financial Ltd. now owns 1,234,220 shares of the company's stock valued at $80,867,000 after acquiring an additional 1,162,656 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AZN shares. BNP Paribas initiated coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective on the stock. Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

AstraZeneca Stock Up 1.2%

AZN opened at $73.95 on Friday. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.70. The firm's fifty day moving average price is $71.55 and its two-hundred day moving average price is $71.41. The company has a market capitalization of $229.34 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.36 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.09 EPS 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be issued a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's payout ratio is currently 77.44%.

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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