First American Bank Has $1.81 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

First American Bank lifted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 21.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,586 shares of the company's stock after purchasing an additional 4,272 shares during the quarter. First American Bank's holdings in AstraZeneca were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AZN. Banque Transatlantique SA acquired a new stake in AstraZeneca during the 4th quarter worth about $26,000. Confluence Investment Management LLC acquired a new stake in AstraZeneca during the 1st quarter worth about $27,000. Mascagni Wealth Management Inc. acquired a new stake in AstraZeneca during the 4th quarter worth about $29,000. FNY Investment Advisers LLC acquired a new stake in AstraZeneca during the 1st quarter worth about $29,000. Finally, Highline Wealth Partners LLC boosted its position in AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after acquiring an additional 340 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Trading Down 1.1%

Shares of NASDAQ AZN opened at $69.95 on Friday. The stock has a market cap of $216.94 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.30 and a beta of 0.38. The business has a 50 day simple moving average of $70.34 and a 200 day simple moving average of $70.39. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.70 and a current ratio of 0.90.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The business had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.06 EPS. On average, research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas initiated coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $85.00.

About AstraZeneca

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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