LGT Fund Management Co Ltd. Has $2.20 Million Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in AstraZeneca by 33.4%, selling 14,988 shares and bringing its total to 29,872 shares valued at $2.2 million.
• Other institutional investors have also made significant adjustments, with Bank of America Corp DE increasing its position by 189.3% in the last quarter.
• AstraZeneca recently announced a semi-annual dividend of $0.505, with a payout ratio of 37.97%, despite a year-on-year earnings per share decrease.

LGT Fund Management Co Ltd. decreased its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 33.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 29,872 shares of the company's stock after selling 14,988 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in AstraZeneca were worth $2,196,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AZN. Banque Transatlantique SA acquired a new stake in AstraZeneca in the fourth quarter valued at $26,000. Confluence Investment Management LLC acquired a new stake in AstraZeneca during the 1st quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of AstraZeneca in the 4th quarter valued at $29,000. Finally, FNY Investment Advisers LLC bought a new stake in AstraZeneca during the 1st quarter valued at $29,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Up 0.9%

NASDAQ AZN traded up $0.70 during trading on Friday, hitting $79.17. The company had a trading volume of 4,760,279 shares, compared to its average volume of 5,576,905. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The company's fifty day moving average is $72.32 and its 200-day moving average is $71.90. The company has a market cap of $245.53 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 1.44 and a beta of 0.36. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS 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 quarter in the prior year, the business earned $1.24 earnings per share. The company's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side 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. Shareholders of record on Friday, August 8th will be paid a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's dividend payout ratio is currently 37.97%.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research report on Wednesday, July 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

AstraZeneca 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.