Mackenzie Financial Corp Raises Position in Astrazeneca Plc $AZN

Key Points

• Mackenzie Financial Corp increased its stake in AstraZeneca by 9.0% in Q3, buying an additional 47,099 shares to own 568,601 shares worth about $43.62 million.
• AstraZeneca declared a dividend of $1.595 per share payable March 23 with record and ex-dividend dates on February 20, which the article reports as representing a 156.0% yield.
• Analysts hold a consensus rating of “Moderate Buy” on AZN (nine Buys, one Sell) with an average price target of $95.75, though individual broker views vary from Holds to Buys.

Mackenzie Financial Corp boosted its position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 568,601 shares of the company's stock after buying an additional 47,099 shares during the period. Mackenzie Financial Corp's holdings in Astrazeneca were worth $43,623,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AZN. Rakuten Investment Management Inc. acquired a new stake in shares of Astrazeneca in the third quarter worth approximately $31,000. FSA Wealth Management LLC raised its stake in Astrazeneca by 376.0% in the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company's stock valued at $33,000 after purchasing an additional 376 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in Astrazeneca in the 2nd quarter valued at $33,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Astrazeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company's stock valued at $36,000 after purchasing an additional 275 shares in the last quarter. Finally, Abound Wealth Management boosted its stake in Astrazeneca by 1,767.9% during the 3rd quarter. Abound Wealth Management now owns 523 shares of the company's stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AZN. Wall Street Zen cut shares of Astrazeneca from a "buy" rating to a "hold" rating in a research note on Thursday. HSBC restated a "buy" rating and issued a $108.00 price target on shares of Astrazeneca in a research report on Wednesday, December 10th. Citigroup assumed coverage on Astrazeneca in a research report on Tuesday, January 27th. They set a "buy" rating on the stock. Guggenheim reissued a "buy" rating on shares of Astrazeneca in a research note on Wednesday, December 3rd. Finally, Weiss Ratings initiated coverage on Astrazeneca in a report on Wednesday. They issued a "buy (b)" rating for the company. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.75.

Astrazeneca Stock Down 0.7%

Shares of AZN stock opened at $192.05 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51. The stock has a market cap of $297.85 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.46 and a beta of 0.32. Astrazeneca Plc has a 12 month low of $122.48 and a 12 month high of $212.71.

Astrazeneca Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be given a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. Astrazeneca's payout ratio is presently 66.26%.

Astrazeneca Company Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.