Mackenzie Financial Corp Reduces Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Mackenzie Financial Corp reduced its stake in AstraZeneca PLC by 24.0%, selling 127,188 shares, and now holds 402,849 shares valued at approximately $29.6 million.
• AstraZeneca's stock is currently trading at $73.98 with a market capitalization of $229.44 billion and expectations for an EPS of 4.51 for the current year.
• Analysts have given AstraZeneca a consensus rating of "Moderate Buy" with an average target price of $89.00, while Berenberg Bank has set a more optimistic target of $97.00.

Mackenzie Financial Corp lessened its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 24.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,849 shares of the company's stock after selling 127,188 shares during the period. Mackenzie Financial Corp's holdings in AstraZeneca were worth $29,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in AZN. Capital International Investors lifted its holdings in shares of AstraZeneca by 1.9% during the fourth quarter. Capital International Investors now owns 37,507,159 shares of the company's stock worth $2,457,706,000 after purchasing an additional 686,008 shares during the period. Bank of America Corp DE increased its position in shares of AstraZeneca by 189.3% in the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after buying an additional 15,722,197 shares in the last quarter. Sanders Capital LLC increased its position in shares of AstraZeneca by 1.4% in the fourth quarter. Sanders Capital LLC now owns 15,186,692 shares of the company's stock valued at $995,032,000 after buying an additional 212,301 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AstraZeneca by 13.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,322,388 shares of the company's stock worth $348,730,000 after purchasing an additional 636,537 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of AstraZeneca by 25.5% during the fourth quarter. Northern Trust Corp now owns 4,692,678 shares of the company's stock worth $307,464,000 after purchasing an additional 952,010 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Performance

NASDAQ:AZN traded up $0.86 during mid-day trading on Friday, reaching $73.95. 9,724,199 shares of the stock were exchanged, compared to its average volume of 5,423,493. The company has a 50 day simple moving average of $71.48 and a 200-day simple moving average of $71.31. The stock has a market capitalization of $229.34 billion, a P/E ratio of 27.80, a P/E/G ratio of 1.41 and a beta of 0.37. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its 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 company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.08 billion. During the same period last year, the business posted $1.24 EPS. The company's revenue was up 16.1% on a year-over-year basis. Analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be issued a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

Analysts Set New Price Targets

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