HB Wealth Management LLC Sells 18,913 Shares of AstraZeneca PLC $AZN

Key Points

• HB Wealth Management LLC has reduced its holdings in AstraZeneca PLC by 40.6%, selling 18,913 shares during the second quarter, leaving them with a total of 27,650 shares valued at approximately $1.93 million.
• Berenberg Bank has set a target price of $97.00 for AstraZeneca shares, with a consensus average rating of “Moderate Buy” from analysts.
• AstraZeneca announced a semi-annual dividend of $0.505 per share, which was paid on September 8th, representing a yield of 200% with a payout ratio of 37.97%.

HB Wealth Management LLC reduced its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 40.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,650 shares of the company's stock after selling 18,913 shares during the quarter. HB Wealth Management LLC's holdings in AstraZeneca were worth $1,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 289 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the 1st quarter worth $29,000. Costello Asset Management INC bought a new stake in shares of AstraZeneca during the 1st quarter worth $29,000. Highline Wealth Partners LLC boosted its stake in AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after buying an additional 340 shares in the last quarter. Finally, Maseco LLP bought a new position in AstraZeneca in the second quarter valued at about $34,000. Institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Price Performance

Shares of AZN opened at $83.65 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The stock has a market cap of $259.43 billion, a PE ratio of 31.45, a PEG ratio of 1.55 and a beta of 0.36. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $84.61. The business has a 50-day simple moving average of $77.79 and a two-hundred day simple moving average of $73.04.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting analysts' consensus estimates 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 return on equity of 32.84% and a net margin of 14.68%.The business's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $1.24 earnings per share. Analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

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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