Flputnam Investment Management Co. Grows Stock Position in AstraZeneca PLC $AZN

Key Points

• Flputnam Investment Management Co. has increased its stake in AstraZeneca PLC by 4.4% in the first quarter, now owning 306,575 shares worth approximately $22.5 million.
• AstraZeneca recently reported earnings per share of $1.09, matching analysts' expectations, with a revenue of $14.46 billion, exceeding forecasts.
• The company has set a semi-annual dividend at $0.505 per share, facing a payout ratio of 37.97%, while analysts have set a target price of $86.00 for the stock.

Flputnam Investment Management Co. grew its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,575 shares of the company's stock after acquiring an additional 13,001 shares during the quarter. Flputnam Investment Management Co.'s holdings in AstraZeneca were worth $22,533,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Banque Transatlantique SA bought a new position in AstraZeneca during the 4th quarter worth approximately $26,000. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca in the 1st quarter worth approximately $27,000. Larson Financial Group LLC increased its position in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 289 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of AstraZeneca in the 4th quarter worth $29,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca in the 1st quarter worth $29,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Trading Down 0.1%

AZN stock opened at $79.90 on Friday. The business has a fifty day moving average price of $73.80 and a 200 day moving average price of $72.49. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The stock has a market capitalization of $247.80 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.47 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting analysts' consensus estimates of $1.09. The firm had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The business's revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $1.24 EPS. Analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is currently 37.97%.

Analysts Set New Price Targets

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

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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