Exome Asset Management LLC Buys Shares of 32,534 AstraZeneca PLC $AZN

Key Points

• Exome Asset Management LLC acquired a new position in AstraZeneca PLC, purchasing 32,534 shares valued at approximately $2.39 million, making up about 2.0% of their investment portfolio.
• AstraZeneca's latest earnings report showed a revenue of $14.46 billion for the quarter, exceeding consensus estimates and representing a 16.1% year-over-year growth.
• The company has recently cut its dividend, with a payment of $0.505 per share, resulting in a payout ratio of 37.97% and a dividend yield of 200.0%.

Exome Asset Management LLC acquired a new stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 32,534 shares of the company's stock, valued at approximately $2,391,000. AstraZeneca accounts for 2.0% of Exome Asset Management LLC's investment portfolio, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AZN. Dynamic Advisor Solutions LLC raised its stake in shares of AstraZeneca by 58.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after buying an additional 4,811 shares in the last quarter. Farther Finance Advisors LLC raised its position in AstraZeneca by 13.1% in the first quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock worth $442,000 after purchasing an additional 706 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in AstraZeneca by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 311,600 shares of the company's stock worth $22,903,000 after purchasing an additional 5,557 shares during the period. Vontobel Holding Ltd. acquired a new stake in AstraZeneca during the first quarter valued at approximately $727,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of AstraZeneca in the 4th quarter valued at approximately $4,026,000. 20.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research note on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca Price Performance

NASDAQ AZN traded down $1.54 during trading hours on Friday, reaching $79.56. 4,491,602 shares of the company's stock were exchanged, compared to its average volume of 3,166,284. The firm has a fifty day moving average of $75.95 and a 200-day moving average of $72.97. AstraZeneca PLC has a one year low of $61.24 and a one year high of $82.41. The stock has a market cap of $246.74 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 1.49 and a beta of 0.37. 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 (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.46 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, equities 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 announced a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. 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.