376,330 Shares in AstraZeneca PLC $AZN Purchased by Iron Triangle Partners LP

Key Points

• Iron Triangle Partners LP invested $27.66 million in AstraZeneca, acquiring 376,330 shares, making it the firm's 9th largest holding and 4.4% of its investment portfolio.
• AstraZeneca's stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $86.00, and Berenberg Bank recently set a target of $97.00.
• The company reported $14.46 billion in quarterly revenue, surpassing expectations, and has a dividend yield of 200.0% with a payout ratio of 37.97%.

Iron Triangle Partners LP purchased a new position in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 376,330 shares of the company's stock, valued at approximately $27,660,000. AstraZeneca comprises about 4.4% of Iron Triangle Partners LP's portfolio, making the stock its 9th biggest position.

Several other institutional investors have also modified their holdings of AZN. Brighton Jones LLC lifted its position in shares of AstraZeneca by 93.2% during the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after buying an additional 2,789 shares during the last quarter. American Assets Inc. acquired a new position in shares of AstraZeneca in the 4th quarter valued at $426,000. Northern Trust Corp increased its holdings 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. Schonfeld Strategic Advisors LLC increased its holdings in shares of AstraZeneca by 74.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 36,300 shares of the company's stock valued at $2,378,000 after acquiring an additional 15,499 shares during the period. Finally, Rehmann Capital Advisory Group increased its holdings in shares of AstraZeneca by 6.9% in the 4th quarter. Rehmann Capital Advisory Group now owns 10,720 shares of the company's stock valued at $702,000 after acquiring an additional 693 shares during the period. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

AZN stock traded up $1.59 during trading on Wednesday, reaching $81.78. 2,009,766 shares of the company were exchanged, compared to its average volume of 5,188,548. The company has a market cap of $253.64 billion, a P/E ratio of 30.76, a PEG ratio of 1.47 and a beta of 0.37. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $85.99. The stock's 50 day moving average price is $74.18 and its 200 day moving average price is $72.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

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

AstraZeneca Cuts Dividend

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

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. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

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.