Kestra Advisory Services LLC Decreases Holdings in AstraZeneca PLC $AZN

Key Points

• Kestra Advisory Services LLC reduced its stake in AstraZeneca PLC by 16.1%, holding 68,840 shares valued at $5.06 million as of the most recent SEC filing.
• AstraZeneca reported a 16.1% increase in revenue year-over-year, with quarterly earnings of $1.09 per share, meeting analyst expectations.
• The company announced a semi-annual dividend of $0.505 per share, with a dividend payout ratio of 37.97%.

Kestra Advisory Services LLC reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 16.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,840 shares of the company's stock after selling 13,219 shares during the period. Kestra Advisory Services LLC's holdings in AstraZeneca were worth $5,060,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock worth $1,574,247,000 after acquiring an additional 15,722,197 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of AstraZeneca by 30.9% in the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock worth $1,003,124,000 after acquiring an additional 3,224,251 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of AstraZeneca by 220.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock worth $198,363,000 after acquiring an additional 2,083,645 shares during the period. American Century Companies Inc. grew its holdings in AstraZeneca by 406.9% during the 1st quarter. American Century Companies Inc. now owns 2,020,629 shares of the company's stock valued at $148,517,000 after buying an additional 1,621,974 shares in the last quarter. Finally, Boston Partners grew its holdings in AstraZeneca by 35.9% during the 1st quarter. Boston Partners now owns 5,036,645 shares of the company's stock valued at $368,712,000 after buying an additional 1,329,166 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AZN traded down $0.09 during mid-day trading on Friday, hitting $79.90. 2,824,737 shares of the stock were exchanged, compared to its average volume of 5,221,745. The company has a market cap of $247.80 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 1.47 and a beta of 0.36. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $87.68. The firm has a 50-day moving average of $73.60 and a two-hundred day moving average of $72.46. 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 issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. On average, equities 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. Stockholders of record on Friday, August 8th will be issued a $0.505 dividend. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's payout ratio is 37.97%.

Analyst Ratings Changes

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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.