Harvest Portfolios Group Inc. Sells 20,219 Shares of AstraZeneca PLC $AZN

Key Points

• Harvest Portfolios Group Inc. reduced its AstraZeneca stake by 2.5%, selling 20,219 shares in Q3 and now holds 793,944 shares worth about $60.91 million, representing 1.1% of its portfolio (its 25th largest holding).
• Several institutions aggressively increased positions—Fayez Sarofim, Acadian Asset Management, Raymond James and JPMorgan among others added millions of shares—bringing institutional ownership to roughly 20.35%.
• Analysts have a consensus rating of "Moderate Buy" on AstraZeneca (nine Buys, one Sell) with a consensus target of $95.75, and the company declared a $1.595 dividend payable March 23 (record/ex-dividend date Feb 20).

Harvest Portfolios Group Inc. lessened its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,944 shares of the company's stock after selling 20,219 shares during the period. AstraZeneca comprises about 1.1% of Harvest Portfolios Group Inc.'s portfolio, making the stock its 25th largest holding. Harvest Portfolios Group Inc.'s holdings in AstraZeneca were worth $60,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Fayez Sarofim & Co grew its holdings in AstraZeneca by 173.4% during the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company's stock worth $261,764,000 after purchasing an additional 2,376,032 shares during the period. Acadian Asset Management LLC boosted its stake in shares of AstraZeneca by 2,389.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,043,850 shares of the company's stock worth $142,798,000 after acquiring an additional 1,961,764 shares during the period. Raymond James Financial Inc. boosted its stake in shares of AstraZeneca by 64.8% during the 2nd quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company's stock worth $264,373,000 after acquiring an additional 1,487,662 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in shares of AstraZeneca during the 2nd quarter worth approximately $96,936,000. Finally, JPMorgan Chase & Co. raised its stake in AstraZeneca by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,824,072 shares of the company's stock valued at $370,103,000 after acquiring an additional 1,048,738 shares during the period. 20.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays reiterated an "overweight" rating on shares of AstraZeneca in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of AstraZeneca in a research report on Friday, February 6th. Morgan Stanley restated an "overweight" rating and set a $103.00 price objective on shares of AstraZeneca in a report on Wednesday, December 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research note on Wednesday, January 21st. Finally, HSBC restated a "buy" rating and issued a $108.00 price target on shares of AstraZeneca in a research note on Wednesday, December 10th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, AstraZeneca currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.75.

AstraZeneca Stock Up 2.3%

Shares of AZN opened at $208.72 on Friday. 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 market capitalization of $323.71 billion, a PE ratio of 69.34, a P/E/G ratio of 1.59 and a beta of 0.34. The firm's 50 day moving average is $135.91 and its 200-day moving average is $102.01. AstraZeneca PLC has a 12 month low of $122.48 and a 12 month high of $212.71.

AstraZeneca Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, February 20th will be paid a $1.595 dividend. This represents a yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca's payout ratio is 74.83%.

About AstraZeneca

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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