Gray Foundation Invests $3.36 Million in Astrazeneca Plc $AZN

Key Points

• Gray Foundation established a new position in AstraZeneca in Q4, buying 36,537 shares worth about $3.36 million, making AZN roughly 0.8% of its portfolio and its 11th-largest holding.
• Multiple large institutions (Bank of Montreal, Holocene, Raymond James, Bank of America, Allspring) significantly increased AZN stakes, and institutional investors now own about 20.35% of the company.
• AstraZeneca paid a dividend of $1.595 per share (paid March 23, ex-dividend Feb 20), and analysts are mostly positive—eight Buys versus one Sell—giving a MarketBeat consensus rating of "Moderate Buy" with a consensus price target of $102.67.

Gray Foundation bought a new position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 36,537 shares of the company's stock, valued at approximately $3,359,000. Astrazeneca makes up approximately 0.8% of Gray Foundation's portfolio, making the stock its 11th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in AZN. Bank of Montreal Can grew its position in shares of Astrazeneca by 344.6% in the 3rd quarter. Bank of Montreal Can now owns 3,478,114 shares of the company's stock valued at $266,841,000 after buying an additional 2,695,793 shares during the last quarter. Holocene Advisors LP increased its position in Astrazeneca by 41.8% in the 3rd quarter. Holocene Advisors LP now owns 6,129,194 shares of the company's stock valued at $470,232,000 after acquiring an additional 1,807,565 shares during the period. Raymond James Financial Inc. grew its position in Astrazeneca by 64.8% in the 2nd quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company's stock valued at $264,373,000 after buying an additional 1,487,662 shares during the last quarter. Bank of America Corp DE grew its position in Astrazeneca by 4.7% in the 3rd quarter. Bank of America Corp DE now owns 32,633,139 shares of the company's stock valued at $2,503,614,000 after buying an additional 1,461,786 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Astrazeneca by 750.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,628,771 shares of the company's stock valued at $149,147,000 after buying an additional 1,437,253 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Stock Down 0.0%

Shares of Astrazeneca stock opened at $189.71 on Monday. The firm has a market cap of $294.22 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.43 and a beta of 0.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94. Astrazeneca Plc has a 1-year low of $132.32 and a 1-year high of $212.71.

Astrazeneca Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, February 20th were paid a dividend of $1.595 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a yield of 156.0%. Astrazeneca's dividend payout ratio (DPR) is presently 74.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AZN shares. Weiss Ratings started coverage on shares of Astrazeneca in a research report on Wednesday, March 11th. They issued a "buy (b)" rating on the stock. TD Cowen restated a "buy" rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Citigroup assumed coverage on Astrazeneca in a research note on Tuesday, January 27th. They set a "buy" rating on the stock. Finally, Wall Street Zen downgraded shares of Astrazeneca from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Astrazeneca has an average rating of "Moderate Buy" and a consensus price target of $102.67.

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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