GQG Partners LLC Sells 2,918,310 Shares of AstraZeneca PLC (NASDAQ:AZN)

Key Points

• GQG Partners LLC sold 2,918,310 shares of AstraZeneca PLC, reducing its holdings by 66.7%, leaving them with 1,457,030 shares valued at approximately $107 million.
• AstraZeneca reported earnings of $1.09 per share for the last quarter, aligning with analyst expectations, and noted revenue growth of 16.1% year-over-year to $14.46 billion.
• The company announced a $0.505 semi-annual dividend, resulting in a dividend yield of 200.0% and demonstrating a payout ratio of 37.97%.

GQG Partners LLC lessened its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 66.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,457,030 shares of the company's stock after selling 2,918,310 shares during the quarter. GQG Partners LLC's holdings in AstraZeneca were worth $107,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZN. Brighton Jones LLC lifted its position in shares of AstraZeneca by 93.2% during the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after purchasing an additional 2,789 shares during the last quarter. American Assets Inc. acquired a new position in shares of AstraZeneca during the 4th quarter worth about $426,000. Geode Capital Management LLC lifted its position in shares of AstraZeneca by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 498,831 shares of the company's stock worth $32,683,000 after purchasing an additional 5,384 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of AstraZeneca during the 4th quarter worth about $312,000. Finally, Sterling Capital Management LLC lifted its position in shares of AstraZeneca by 54.9% during the 4th quarter. Sterling Capital Management LLC now owns 16,464 shares of the company's stock worth $1,079,000 after purchasing an additional 5,835 shares during the last quarter. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Up 1.7%

Shares of AstraZeneca stock opened at $75.34 on Wednesday. The firm has a market capitalization of $233.65 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.36 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. The company's fifty day moving average price is $71.97 and its two-hundred day moving average price is $71.73. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced 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. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. On average, analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on AZN. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research note on Wednesday, July 9th. BNP Paribas began coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, AstraZeneca presently has a consensus rating of "Moderate Buy" and a consensus target price 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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