AstraZeneca PLC (NASDAQ:AZN) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in AstraZeneca by 23.1%, owning 883,070 shares valued at $64.91 million after acquiring additional shares in the 1st quarter.
• AstraZeneca reported earnings of $1.09 per share for the last quarter, meeting consensus estimates, with a revenue of $14.46 billion, exceeding analyst predictions.
• The company announced a semi-annual dividend of $0.505 per share, with a yield of 2%, and a payout ratio of 82.73%.

LPL Financial LLC lifted its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 23.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 883,070 shares of the company's stock after purchasing an additional 165,899 shares during the quarter. LPL Financial LLC's holdings in AstraZeneca were worth $64,906,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE lifted its position in AstraZeneca by 189.3% during the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock worth $1,574,247,000 after acquiring an additional 15,722,197 shares during the period. Marshall Wace LLP acquired a new stake in AstraZeneca during the 4th quarter worth about $254,018,000. Alyeska Investment Group L.P. raised its stake in shares of AstraZeneca by 220.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company's stock valued at $198,363,000 after buying an additional 2,083,645 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of AstraZeneca by 815.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,073,630 shares of the company's stock valued at $70,344,000 after buying an additional 1,223,630 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its stake in shares of AstraZeneca by 1,624.6% during the 4th quarter. Phoenix Financial Ltd. now owns 1,234,220 shares of the company's stock valued at $80,867,000 after buying an additional 1,162,656 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded down $3.50 on Thursday, hitting $73.09. The company's stock had a trading volume of 8,598,649 shares, compared to its average volume of 4,911,597. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.86. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The firm has a fifty day moving average price of $71.48 and a 200-day moving average price of $71.31. The company has a market capitalization of $226.68 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share 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 during the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the previous year, the business earned $1.24 EPS. AstraZeneca's revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be issued a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's payout ratio is presently 82.73%.

Wall Street Analysts Forecast Growth

AZN has been the subject of a number of recent research reports. BNP Paribas initiated coverage on AstraZeneca in a research note on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.

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.