KFA Private Wealth Group LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• KFA Private Wealth Group LLC has made a new investment in AstraZeneca PLC, acquiring approximately $270,000 worth of shares in the first quarter.
• Several institutional investors have increased their stakes in AstraZeneca, with Bank of America Corp DE showing a remarkable 189.3% increase in its holdings during the fourth quarter.
• AstraZeneca's stock has an average rating of "Moderate Buy" from analysts, with an average price target of $89.00.

KFA Private Wealth Group LLC purchased a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,677 shares of the company's stock, valued at approximately $270,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in shares of AstraZeneca in the first quarter valued at about $27,000. Larson Financial Group LLC boosted its position in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca during the 1st quarter valued at about $29,000. Banque Transatlantique SA bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $26,000. Finally, Highline Wealth Partners LLC boosted its position in shares of AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Down 3.5%

NASDAQ:AZN traded down $2.71 on Thursday, hitting $73.88. The stock had a trading volume of 5,780,762 shares, compared to its average volume of 5,372,622. The business's fifty day moving average is $71.42 and its 200 day moving average is $71.26. The company has a market cap of $229.13 billion, a PE ratio of 27.83, a P/E/G ratio of 1.36 and a beta of 0.37. The company has a quick ratio of 0.70, a current ratio of 0.90 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly 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. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 33.61% and a net margin of 14.68%. The company's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. On average, equities research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal 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 of this dividend is Friday, August 8th. This represents a dividend yield of 2%. AstraZeneca's dividend payout ratio is presently 82.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BNP Paribas assumed coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 target price on the stock. Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.00.

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.