Lineweaver Wealth Advisors LLC Takes $568,000 Position in AstraZeneca PLC $AZN

Key Points

• Lineweaver Wealth Advisors LLC has acquired 8,124 shares of AstraZeneca PLC valued at approximately $568,000, adding to the growing interest from large institutional investors in the stock.
• AstraZeneca recently reported earnings per share of $1.09, meeting analyst expectations, with revenue of $14.46 billion representing a 16.1% year-over-year increase.
• The firm has set a new target price of $97.00 for its stock, with three analysts recommending a Buy and one a Hold, indicating positive sentiment around AstraZeneca's performance.

Lineweaver Wealth Advisors LLC acquired a new stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,124 shares of the company's stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in AstraZeneca by 93.2% during the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after acquiring an additional 2,789 shares during the period. American Assets Inc. acquired a new stake in shares of AstraZeneca during the fourth quarter worth $426,000. Toronto Dominion Bank raised its position in shares of AstraZeneca by 51.0% during the fourth quarter. Toronto Dominion Bank now owns 27,080 shares of the company's stock worth $1,774,000 after purchasing an additional 9,151 shares during the period. Tidal Investments LLC raised its position in AstraZeneca by 9.6% during the fourth quarter. Tidal Investments LLC now owns 7,284 shares of the company's stock valued at $477,000 after buying an additional 635 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in AstraZeneca in the fourth quarter valued at about $5,641,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Down 1.0%

Shares of AstraZeneca stock traded down $0.79 during trading on Friday, reaching $76.28. The stock had a trading volume of 6,661,509 shares, compared to its average volume of 3,365,713. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $82.41. The company has a market capitalization of $236.57 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.40 and a beta of 0.37. 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 stock has a fifty day moving average price of $76.61 and a two-hundred day moving average price of $72.97.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.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 company earned $1.24 earnings per share. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid 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 presently 37.97%.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.