Magnus Financial Group LLC bought a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,793 shares of the company's stock, valued at approximately $265,000.
Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in AstraZeneca by 30.9% in the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock valued at $1,003,124,000 after acquiring an additional 3,224,251 shares during the last quarter. Boston Partners lifted its stake in AstraZeneca by 35.9% in the first quarter. Boston Partners now owns 5,036,645 shares of the company's stock valued at $368,712,000 after acquiring an additional 1,329,166 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in AstraZeneca by 5.6% in the first quarter. Ameriprise Financial Inc. now owns 4,942,367 shares of the company's stock valued at $364,283,000 after acquiring an additional 261,064 shares during the last quarter. Swedbank AB lifted its stake in AstraZeneca by 20.8% in the second quarter. Swedbank AB now owns 4,077,554 shares of the company's stock valued at $284,939,000 after acquiring an additional 701,779 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in AstraZeneca by 7.3% in the first quarter. WCM Investment Management LLC now owns 4,003,070 shares of the company's stock valued at $295,387,000 after acquiring an additional 272,537 shares during the last quarter. Institutional investors own 20.35% of the company's stock.
AstraZeneca Stock Performance
NASDAQ AZN opened at $73.76 on Friday. The firm has a 50-day moving average of $77.13 and a 200-day moving average of $72.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market cap of $228.76 billion, a PE ratio of 27.73, a P/E/G ratio of 1.35 and a beta of 0.37. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $82.41.
AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. 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 previous year, the company earned $1.24 EPS. The business's revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.
AstraZeneca Cuts Dividend
The firm also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were given a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.
Analysts Set New Price Targets
Separately, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $86.00.
Read Our Latest Stock Analysis on AZN
About AstraZeneca
(
Free Report)
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.
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