First American Bank Has $1.46 Million Position in AstraZeneca PLC $AZN

Key Points

• First American Bank reduced its stake in AstraZeneca PLC by 14.8% to 20,954 shares, valued at approximately $1.46 million as of the latest SEC filing.
• In the second quarter, AstraZeneca reported revenue of $14.46 billion, exceeding analyst projections, while earnings per share met estimates at $1.09.
• AstraZeneca's stock is rated as a "Moderate Buy" by analysts, with a current average price target of $86.00.

First American Bank lowered its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,954 shares of the company's stock after selling 3,632 shares during the quarter. First American Bank's holdings in AstraZeneca were worth $1,464,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Confluence Investment Management LLC acquired a new position in AstraZeneca in the first quarter worth $27,000. Larson Financial Group LLC boosted its stake in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 289 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in AstraZeneca in the fourth quarter worth $29,000. FNY Investment Advisers LLC acquired a new position in AstraZeneca in the first quarter worth $29,000. Finally, Costello Asset Management INC acquired a new position in AstraZeneca in the first quarter worth $29,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Trading Up 0.3%

Shares of AZN opened at $73.76 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.86 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 $82.41. The firm has a market capitalization of $228.76 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.35 and a beta of 0.37. The stock's fifty day simple moving average is $77.13 and its 200-day simple moving average is $72.96.

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 the consensus estimate 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 analyst estimates of $14.08 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and an average price target 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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