Janney Montgomery Scott LLC Purchases 7,496 Shares of AstraZeneca PLC $AZN

Key Points

• Janney Montgomery Scott LLC increased its stake in AstraZeneca PLC by 2.5%, acquiring an additional 7,496 shares, bringing its total to 305,806 shares valued at approximately $21.37 million.
• AstraZeneca reported a quarterly earnings per share of $1.09, meeting analysts' expectations, with significant revenue growth of 16.1% year-over-year.
• Despite a recent dividend payout of $0.505 per share, AstraZeneca saw its stock trading down by 0.8% to open at $83.65.

Janney Montgomery Scott LLC raised its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 305,806 shares of the company's stock after purchasing an additional 7,496 shares during the period. Janney Montgomery Scott LLC's holdings in AstraZeneca were worth $21,370,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AZN. Dynamic Advisor Solutions LLC raised its stake in shares of AstraZeneca by 58.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after buying an additional 4,811 shares in the last quarter. SCS Capital Management LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at $3,066,000. Farther Finance Advisors LLC raised its stake in shares of AstraZeneca by 13.1% in the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock valued at $442,000 after buying an additional 706 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of AstraZeneca by 6.0% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock valued at $5,472,000 after buying an additional 4,449 shares in the last quarter. Finally, Alhambra Investment Management LLC acquired a new position in shares of AstraZeneca in the 2nd quarter valued at $320,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Trading Down 0.8%

Shares of AZN stock opened at $83.65 on Friday. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $84.61. The company has a market capitalization of $259.43 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.55 and a beta of 0.36. The firm has a 50-day moving average price of $77.79 and a 200 day moving average price of $73.04. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were given a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is presently 37.97%.

Wall Street Analyst Weigh In

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

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.

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