Invesco Ltd. Boosts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Invesco Ltd. has increased its stake in AstraZeneca PLC by 33.2%, acquiring an additional 948,659 shares, bringing its total ownership to approximately 3.8 million shares valued at $279.85 million.
• AstraZeneca's stock opened at $75.34, with a market cap of $233.65 billion and expectations of posting an EPS of 4.51 for the current year.
• The company recently announced a semi-annual dividend of $0.505 per share, reflecting a yield of 200.0% and a payout ratio of 37.97%.

Invesco Ltd. grew its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 33.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,807,522 shares of the company's stock after purchasing an additional 948,659 shares during the quarter. Invesco Ltd. owned approximately 0.12% of AstraZeneca worth $279,853,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital International Investors raised its stake in shares of AstraZeneca by 1.9% in the 4th quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after acquiring an additional 686,008 shares during the period. Bank of America Corp DE raised its stake in shares of AstraZeneca by 189.3% in the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after acquiring an additional 15,722,197 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of AstraZeneca by 30.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock valued at $1,003,124,000 after acquiring an additional 3,224,251 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AstraZeneca by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,322,388 shares of the company's stock valued at $348,730,000 after acquiring an additional 636,537 shares during the period. Finally, Northern Trust Corp raised its stake in shares of AstraZeneca by 25.5% in the 4th quarter. Northern Trust Corp now owns 4,692,678 shares of the company's stock valued at $307,464,000 after acquiring an additional 952,010 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AZN traded up $0.70 during trading hours on Friday, reaching $79.17. The company had a trading volume of 4,760,279 shares, compared to its average volume of 5,576,905. The firm has a 50 day simple moving average of $72.32 and a 200-day simple moving average of $71.91. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $245.54 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.46 and a beta of 0.36. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same period last year, the firm posted $1.24 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, AstraZeneca currently has an average rating of "Moderate Buy" and an average 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.