LGT Fund Management Co Ltd. Boosts Holdings in AstraZeneca PLC $AZN

Key Points

• LGT Fund Management Co Ltd. has increased its stake in AstraZeneca PLC by 33.8%, owning a total of 39,958 shares worth approximately $2.79 million.
• Analysts have a consensus rating of "Moderate Buy" for AstraZeneca, with a target price of $86.00 and multiple firms issuing Buy ratings recently.
• AstraZeneca reported earnings per share of $1.09 for the last quarter, matching analyst expectations, and achieved revenue of $14.46 billion, exceeding estimates of $14.08 billion.

LGT Fund Management Co Ltd. grew its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 33.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,958 shares of the company's stock after acquiring an additional 10,086 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in AstraZeneca were worth $2,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in AstraZeneca by 1.9% during the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock valued at $557,000 after acquiring an additional 141 shares during the period. Principal Securities Inc. boosted its holdings in AstraZeneca by 0.5% during the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock valued at $2,062,000 after acquiring an additional 142 shares during the period. Sage Mountain Advisors LLC boosted its holdings in AstraZeneca by 3.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock valued at $329,000 after acquiring an additional 147 shares during the period. Evergreen Capital Management LLC boosted its holdings in AstraZeneca by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock valued at $1,743,000 after acquiring an additional 155 shares during the period. Finally, Eagle Global Advisors LLC boosted its holdings in AstraZeneca by 0.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 53,536 shares of the company's stock valued at $3,741,000 after acquiring an additional 160 shares during the period. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a report on Saturday, September 27th. Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Price Performance

Shares of AZN stock opened at $85.31 on Friday. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $85.50. The stock has a market capitalization of $264.58 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 1.54 and a beta of 0.36. The stock has a fifty day simple moving average of $78.04 and a two-hundred day simple moving average of $73.10. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were issued a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca's dividend payout ratio is currently 37.97%.

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.

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