Dillon & Associates Inc. Has $1.79 Million Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Dillon & Associates Inc. has reduced its position in AstraZeneca PLC by 20.1%, owning 24,182 shares worth approximately $1.79 million after selling 6,090 shares in Q1.
• AstraZeneca's recent quarterly earnings report showed a revenue of $14.46 billion and earnings per share (EPS) of $1.09, which met analyst expectations.
• The company declared a semi-annual dividend of $0.505, with a yield of 200.0%, and has a payout ratio of 37.97% as it continues to focus on its biopharmaceutical operations.

Dillon & Associates Inc. reduced its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,182 shares of the company's stock after selling 6,090 shares during the quarter. Dillon & Associates Inc.'s holdings in AstraZeneca were worth $1,789,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZN. Lindbrook Capital LLC grew its holdings in AstraZeneca by 1.9% during the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock worth $557,000 after acquiring an additional 141 shares during the period. Principal Securities Inc. grew its holdings in AstraZeneca by 0.5% during the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock worth $2,062,000 after acquiring an additional 142 shares during the period. Sage Mountain Advisors LLC grew its holdings in AstraZeneca by 3.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock worth $329,000 after acquiring an additional 147 shares during the period. CoreCap Advisors LLC grew its holdings in AstraZeneca by 31.8% during the 4th quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock worth $42,000 after acquiring an additional 155 shares during the period. Finally, Oakworth Capital Inc. grew its holdings in AstraZeneca by 2.0% during the 1st quarter. Oakworth Capital Inc. now owns 8,575 shares of the company's stock worth $630,000 after acquiring an additional 167 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $73.56 on Monday. The company has a market cap of $228.13 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.35 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $71.86 and a 200 day simple moving average of $71.67. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. Research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

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

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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