Hardman Johnston Global Advisors LLC Reduces Position in Astrazeneca Plc $AZN

Key Points

• Hardman Johnston Global Advisors trimmed its AstraZeneca stake by 2.6%, selling 14,659 shares to hold 546,923 shares worth $50.28M, representing about 2.4% of its portfolio and its 12th largest holding.
• Several large institutions materially increased AZN positions (e.g., Bank of Montreal +344.6% to 3.48M shares; Allspring +750.5% to 1.63M shares), with hedge funds and other institutional investors owning about 20.35% of the company.
• Analysts have a consensus rating of "Moderate Buy" (nine Buys, one Sell) with a consensus price target of $95.75, and AstraZeneca recently paid a $1.595 per-share dividend (payout ratio ~74.8%).

Hardman Johnston Global Advisors LLC decreased its holdings in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 546,923 shares of the company's stock after selling 14,659 shares during the quarter. Astrazeneca comprises about 2.4% of Hardman Johnston Global Advisors LLC's portfolio, making the stock its 12th biggest holding. Hardman Johnston Global Advisors LLC's holdings in Astrazeneca were worth $50,279,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AZN. Bank of Montreal Can grew its holdings in shares of Astrazeneca by 344.6% in the third quarter. Bank of Montreal Can now owns 3,478,114 shares of the company's stock valued at $266,841,000 after purchasing an additional 2,695,793 shares during the period. Holocene Advisors LP grew its holdings in shares of Astrazeneca by 41.8% in the third quarter. Holocene Advisors LP now owns 6,129,194 shares of the company's stock valued at $470,232,000 after purchasing an additional 1,807,565 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Astrazeneca by 64.8% in the second quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company's stock valued at $264,373,000 after purchasing an additional 1,487,662 shares during the period. Bank of America Corp DE grew its holdings in shares of Astrazeneca by 4.7% in the third quarter. Bank of America Corp DE now owns 32,633,139 shares of the company's stock valued at $2,503,614,000 after purchasing an additional 1,461,786 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Astrazeneca by 750.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,628,771 shares of the company's stock valued at $149,147,000 after purchasing an additional 1,437,253 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AZN shares. Morgan Stanley reissued an "overweight" rating on shares of Astrazeneca in a report on Wednesday. Citigroup started coverage on shares of Astrazeneca in a report on Tuesday, January 27th. They issued a "buy" rating for the company. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Astrazeneca in a report on Friday, February 6th. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Finally, Wall Street Zen lowered shares of Astrazeneca from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Astrazeneca presently has an average rating of "Moderate Buy" and a consensus price target of $95.75.

Astrazeneca Stock Up 0.0%

Shares of AZN stock opened at $204.09 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The stock has a market cap of $316.52 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 1.54 and a beta of 0.35. Astrazeneca Plc has a 1-year low of $128.89 and a 1-year high of $212.71.

Astrazeneca Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were given a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend was Friday, February 20th. Astrazeneca's dividend payout ratio is currently 74.83%.

Astrazeneca Profile

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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