Franklin Resources Inc. Sells 1,585,664 Shares of AstraZeneca PLC $AZN

Key Points

• Franklin Resources sold 1,585,664 shares of AstraZeneca in Q3, trimming its stake by 7.4% to 19,712,730 shares (about 0.64% ownership) worth roughly $1.51 billion.
• AstraZeneca declared a $1.595 dividend payable March 23 with record/ex-dividend date of February 20; the filing reports a yield of 156.0% and a payout ratio of 66.26%.
• Analyst coverage is mixed but mostly positive: nine Buy ratings and one Sell, resulting in a MarketBeat consensus of "Moderate Buy" with a consensus target price of $95.75 while the stock trades near $195 and carries a $302.6 billion market cap.

Franklin Resources Inc. lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 7.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,712,730 shares of the company's stock after selling 1,585,664 shares during the period. Franklin Resources Inc. owned approximately 0.64% of AstraZeneca worth $1,511,887,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Rakuten Investment Management Inc. acquired a new stake in AstraZeneca during the third quarter worth about $31,000. FSA Wealth Management LLC raised its holdings in AstraZeneca by 376.0% in the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company's stock valued at $33,000 after acquiring an additional 376 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of AstraZeneca in the 2nd quarter worth approximately $33,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of AstraZeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock worth $36,000 after acquiring an additional 275 shares during the period. Finally, Abound Wealth Management grew its holdings in shares of AstraZeneca by 1,767.9% during the 3rd quarter. Abound Wealth Management now owns 523 shares of the company's stock worth $40,000 after purchasing an additional 495 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 0.1%

Shares of AZN opened at $195.08 on Wednesday. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $150.81 and a 200-day simple moving average of $108.23. The stock has a market cap of $302.56 billion, a PE ratio of 64.81, a PEG ratio of 1.59 and a beta of 0.32.

AstraZeneca Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be given a $1.595 dividend. This represents a yield of 156.0%. The ex-dividend date is Friday, February 20th. AstraZeneca's dividend payout ratio is 66.26%.

Analyst Ratings Changes

AZN has been the topic of a number of research reports. Wall Street Zen cut AstraZeneca from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of AstraZeneca in a research report on Friday, February 6th. Morgan Stanley reissued an "overweight" rating and issued a $103.00 price target on shares of AstraZeneca in a report on Wednesday, December 3rd. Barclays restated an "overweight" rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Finally, Guggenheim reaffirmed a "buy" rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.75.

AstraZeneca Company Profile

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden's Astra AB and the UK's Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca's operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

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