Dodge & Cox Trims Stake in AstraZeneca PLC $AZN

Key Points

• Dodge & Cox reduced its stake in AstraZeneca PLC by 5.3%, selling 7,570 shares, leaving them with 136,140 shares valued at approximately $10 million.
• Other significant institutional investors, including Bank of America and Goldman Sachs, have increased their positions in AstraZeneca, with Bank of America raising its stake by 189.3%.
• AstraZeneca reported earnings of $1.09 per share for the last quarter, meeting analysts' expectations and indicating a revenue increase of 16.1% year-over-year.

Dodge & Cox lessened its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 136,140 shares of the company's stock after selling 7,570 shares during the quarter. Dodge & Cox's holdings in AstraZeneca were worth $10,006,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock valued at $379,000 after acquiring an additional 2,789 shares during the last quarter. American Assets Inc. purchased a new position in AstraZeneca in the fourth quarter worth approximately $426,000. Adage Capital Partners GP L.L.C. purchased a new position in AstraZeneca in the fourth quarter worth approximately $23,157,000. Integrated Wealth Concepts LLC grew its position in AstraZeneca by 5.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 27,569 shares of the company's stock worth $1,806,000 after acquiring an additional 1,406 shares during the period. Finally, Northern Trust Corp boosted its position in shares of AstraZeneca by 25.5% during the fourth quarter. Northern Trust Corp now owns 4,692,678 shares of the company's stock worth $307,464,000 after buying an additional 952,010 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Up 0.1%

NASDAQ AZN traded up $0.06 during trading on Thursday, reaching $79.99. 3,022,512 shares of the company's stock were exchanged, compared to its average volume of 5,236,310. The stock has a market cap of $248.08 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 1.47 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. The company has a 50 day moving average price of $73.42 and a two-hundred day moving average price of $72.41. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting analysts' consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.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 firm earned $1.24 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders 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 presently 37.97%.

Analyst Ratings Changes

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

AstraZeneca 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.