Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 3,171 Shares of AstraZeneca PLC $AZN

Key Points

• Empirical Wealth Management increased its stake in AstraZeneca by 82.5%, acquiring an additional 3,171 shares during the 2nd quarter, bringing its total holdings to 7,016 shares valued at $490,000.
• AstraZeneca reported a net revenue of $14.46 billion for the last quarter, exceeding analyst expectations, with earnings per share meeting the consensus estimate at $1.09.
• The company has a Moderate Buy consensus rating among analysts, alongside a target price set at $86.00.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 82.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,016 shares of the company's stock after acquiring an additional 3,171 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in AstraZeneca were worth $490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC raised its position in AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC bought a new position in shares of AstraZeneca during the first quarter valued at approximately $29,000. Highline Wealth Partners LLC raised its holdings in AstraZeneca by 447.4% in the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after purchasing an additional 340 shares in the last quarter. Finally, Maseco LLP bought a new position in AstraZeneca in the 2nd quarter worth $34,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 2.0%

NASDAQ:AZN opened at $85.31 on Monday. The firm has a market capitalization of $264.58 billion, a P/E ratio of 32.07, a PEG ratio of 1.57 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. AstraZeneca PLC has a one year low of $61.24 and a one year high of $85.50. The company's 50-day simple moving average is $78.04 and its 200 day simple moving average is $73.05.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results 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 business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. 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 objective on AstraZeneca in a research 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, the company presently has a consensus 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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