Koa Wealth Management LLC Has $2 Million Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Koa Wealth Management LLC reduced its holdings in AstraZeneca PLC by 11.4% in the first quarter, resulting in a total of 27,254 shares valued at approximately $2,003,000.
• AstraZeneca reported earnings of $1.09 per share, matching analyst expectations, and generated $14.46 billion in revenue for the quarter, surpassing estimates.
• The company recently announced a semi-annual dividend of $0.505, with a payout ratio of 77.44%, signaling the company's ongoing commitment to shareholder returns despite market fluctuations.

Koa Wealth Management LLC lowered its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,254 shares of the company's stock after selling 3,502 shares during the period. AstraZeneca accounts for 1.6% of Koa Wealth Management LLC's portfolio, making the stock its 19th largest holding. Koa Wealth Management LLC's holdings in AstraZeneca were worth $2,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AZN. Connor Clark & Lunn Investment Management Ltd. raised its position in AstraZeneca by 23.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,082 shares of the company's stock worth $2,285,000 after purchasing an additional 5,807 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in AstraZeneca during the 1st quarter worth $1,565,000. Morton Community Bank grew its holdings in AstraZeneca by 5.1% during the 1st quarter. Morton Community Bank now owns 44,470 shares of the company's stock worth $3,269,000 after acquiring an additional 2,145 shares during the period. Savvy Advisors Inc. acquired a new stake in AstraZeneca during the 1st quarter worth $208,000. Finally, LaSalle St. Investment Advisors LLC grew its holdings in AstraZeneca by 6.5% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 4,590 shares of the company's stock worth $337,000 after acquiring an additional 281 shares during the period. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

AZN traded up $1.27 on Tuesday, reaching $75.34. The company had a trading volume of 2,772,407 shares, compared to its average volume of 5,330,003. The company's fifty day moving average is $71.90 and its 200 day moving average is $71.71. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The stock has a market cap of $233.65 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.35 and a beta of 0.36. 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 announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business's revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be given a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's dividend payout ratio is presently 37.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AZN. BNP Paribas began coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price for the company. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a report on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.