GC Wealth Management RIA LLC Has $4.05 Million Holdings in Astrazeneca Plc $AZN

Key Points

• GC Wealth Management RIA LLC cut its AstraZeneca stake by 42% in the first quarter, selling 14,873 shares and ending with 20,528 shares valued at about $4.05 million.
• AstraZeneca reported better-than-expected quarterly results, posting EPS of $2.58 versus estimates of $2.52 and revenue of $15.29 billion versus $14.93 billion expected.
• Analyst sentiment remains mostly positive, with 13 Buy ratings and a consensus “Moderate Buy” rating, alongside a consensus price target of $211.

GC Wealth Management RIA LLC lessened its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 42.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,528 shares of the company's stock after selling 14,873 shares during the quarter. GC Wealth Management RIA LLC's holdings in Astrazeneca were worth $4,049,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Astrazeneca in the 3rd quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in shares of Astrazeneca during the fourth quarter worth $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Astrazeneca during the first quarter worth $26,000. Bangor Savings Bank increased its holdings in Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Astrazeneca in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Stock Performance

Shares of AZN stock opened at $168.41 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. Astrazeneca Plc has a 52 week low of $142.98 and a 52 week high of $212.71. The company's 50 day moving average price is $180.80 and its two-hundred day moving average price is $188.05. The company has a market capitalization of $261.19 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 1.38 and a beta of 0.24.

Astrazeneca (NYSE:AZN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The company had revenue of $15.29 billion during the quarter, compared to the consensus estimate of $14.93 billion. On average, analysts expect that Astrazeneca Plc will post 10.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZN. The Goldman Sachs Group restated a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Barclays reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Monday, June 1st. Jefferies Financial Group reissued a "buy" rating on shares of Astrazeneca in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Astrazeneca in a report on Tuesday, June 30th. Finally, HSBC lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Astrazeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.00.

About Astrazeneca

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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