ING Groep NV Makes New $370,000 Investment in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• ING Groep NV invested approximately $370,000 in AstraZeneca PLC by acquiring 5,040 shares during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for AstraZeneca, with a target price of $89.00 and recent upgrades from BNP Paribas and Berenberg Bank.
• AstraZeneca recently reported quarterly earnings consistent with estimates and announced a semi-annual dividend of $0.505, yielding 200.0%.

ING Groep NV bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,040 shares of the company's stock, valued at approximately $370,000.

Several other hedge funds have also recently modified their holdings of AZN. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca in the 1st quarter worth approximately $27,000. Larson Financial Group LLC raised its holdings in shares of AstraZeneca by 297.9% in the 1st 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 period. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca in the 1st quarter worth approximately $29,000. Banque Transatlantique SA purchased a new position in AstraZeneca in the 4th quarter valued at approximately $26,000. Finally, Highline Wealth Partners LLC grew its stake in AstraZeneca by 447.4% in the 1st 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. Institutional investors own 20.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AZN. BNP Paribas began coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price objective for the company. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

AstraZeneca Price Performance

Shares of AZN traded down $1.01 during mid-day trading on Friday, reaching $73.56. 4,986,197 shares of the stock traded hands, compared to its average volume of 5,348,094. The firm has a fifty day moving average price of $71.86 and a 200 day moving average price of $71.63. The company has a market cap of $228.13 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 1.37 and a beta of 0.36. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68.

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

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be given a $0.505 dividend. The ex-dividend date is Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's payout ratio is 77.44%.

About AstraZeneca

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.