IFP Advisors Inc Sells 3,451 Shares of AstraZeneca PLC $AZN

Key Points

• IFP Advisors Inc has reduced its shareholding in AstraZeneca PLC by 38.6%, selling 3,451 shares and now owning a total of 5,479 shares, valued at approximately $383,000.
• AstraZeneca's recent quarterly earnings reported an EPS of $1.09, matching analyst expectations, with revenue increasing by 16.1% year-over-year to $14.46 billion.
• The company has announced a semi-annual dividend of $0.505 per share, despite a recent dividend cut, with a current payout ratio of 37.97%.

IFP Advisors Inc decreased its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 38.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,479 shares of the company's stock after selling 3,451 shares during the period. IFP Advisors Inc's holdings in AstraZeneca were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lindbrook Capital LLC increased its holdings in AstraZeneca by 1.9% during the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock worth $557,000 after purchasing an additional 141 shares during the period. Principal Securities Inc. increased its holdings in AstraZeneca by 0.5% during the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock worth $2,062,000 after purchasing an additional 142 shares during the period. Sage Mountain Advisors LLC increased its holdings in AstraZeneca by 3.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock worth $329,000 after purchasing an additional 147 shares during the period. Evergreen Capital Management LLC increased its holdings in AstraZeneca by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock worth $1,743,000 after purchasing an additional 155 shares during the period. Finally, Grimes & Company Inc. increased its holdings in shares of AstraZeneca by 3.0% in the 2nd quarter. Grimes & Company Inc. now owns 5,290 shares of the company's stock valued at $370,000 after acquiring an additional 155 shares during the period. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

Shares of AZN opened at $84.83 on Thursday. The stock has a 50-day moving average of $79.82 and a two-hundred day moving average of $73.69. AstraZeneca PLC has a one year low of $61.24 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market cap of $263.09 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.56 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting analysts' consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The company had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.08 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca 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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