Equitable Trust Co. Cuts Stock Holdings in AstraZeneca PLC $AZN

Key Points

• Equitable Trust Co. has reduced its stake in AstraZeneca PLC by 35.2% in the second quarter, now holding 35,909 shares valued at approximately $2.51 million.
• Analysts have rated AstraZeneca with an average rating of "Moderate Buy" and set a price target of $86.00, with four analysts issuing a Buy rating.
• AstraZeneca recently reported a net revenue increase of 16.1% year-over-year, totaling $14.46 billion, while earnings per share met expectations at $1.09.

Equitable Trust Co. lowered its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 35.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,909 shares of the company's stock after selling 19,490 shares during the period. Equitable Trust Co.'s holdings in AstraZeneca were worth $2,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC grew its position 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 last quarter. Principal Securities Inc. grew its position 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 last quarter. Sage Mountain Advisors LLC grew its position 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 last quarter. Richardson Financial Services Inc. grew its position in AstraZeneca by 59.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company's stock worth $28,000 after acquiring an additional 149 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in AstraZeneca by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock worth $1,743,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

AZN has been the topic of several recent research reports. Berenberg Bank set a $97.00 price target on AstraZeneca in a research report on Wednesday, July 9th. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, AstraZeneca has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Stock Performance

Shares of AZN stock opened at $85.12 on Wednesday. The company's fifty day moving average price is $79.59 and its 200-day moving average price is $73.62. The stock has a market cap of $263.99 billion, a PE ratio of 32.00, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $86.57.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) 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 company had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.08 billion. During the same period last year, the company posted $1.24 EPS. AstraZeneca's revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal 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. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio is presently 37.97%.

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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