Ethic Inc. Sells 19,589 Shares of AstraZeneca PLC $AZN

Key Points

• Ethic Inc. has reduced its holdings in AstraZeneca PLC by 20.1%, now owning 78,019 shares valued at approximately $5.66 million.
• Several hedge funds increased their stakes in AstraZeneca during the first quarter, with existing institutional investors collectively owning 20.35% of the company’s stock.
• AstraZeneca's stock has experienced fluctuations, having a one-year low of $61.24 and a high of $87.68, with the current market cap at $245.53 billion.

Ethic Inc. decreased 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 78,019 shares of the company's stock after selling 19,589 shares during the quarter. Ethic Inc.'s holdings in AstraZeneca were worth $5,664,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in shares of AstraZeneca by 1.9% during the 4th quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after acquiring an additional 686,008 shares in the last quarter. Bank of America Corp DE lifted its position in AstraZeneca by 189.3% during the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock worth $1,574,247,000 after acquiring an additional 15,722,197 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of AstraZeneca by 30.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock worth $1,003,124,000 after purchasing an additional 3,224,251 shares during the period. Dimensional Fund Advisors LP increased its stake in AstraZeneca by 13.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,322,388 shares of the company's stock valued at $348,730,000 after acquiring an additional 636,537 shares during the period. Finally, Boston Partners raised its holdings in shares of AstraZeneca by 35.9% in the 1st quarter. Boston Partners now owns 5,036,645 shares of the company's stock worth $368,712,000 after buying an additional 1,329,166 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Up 0.5%

AZN traded up $0.42 on Tuesday, hitting $79.54. 3,684,070 shares of the company were exchanged, compared to its average volume of 5,302,222. 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 stock's fifty day moving average is $72.44 and its 200-day moving average is $71.97. The company has a market cap of $246.68 billion, a PE ratio of 29.90, a PEG ratio of 1.46 and a beta of 0.36. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Equities research analysts predict 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 paid a dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is 37.97%.

Analyst Ratings Changes

Separately, Berenberg Bank set a $97.00 target price on AstraZeneca in a report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company 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.