202,512 Shares in AstraZeneca PLC (NASDAQ:AZN) Acquired by Main Street Research LLC

Main Street Research LLC bought a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 202,512 shares of the company's stock, valued at approximately $14,885,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of AstraZeneca by 1.9% in the 4th quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after acquiring an additional 686,008 shares during the last quarter. Bank of America Corp DE increased its position in shares of AstraZeneca by 189.3% during the fourth 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 in the last quarter. Franklin Resources Inc. increased its holdings in AstraZeneca by 1.9% during the 4th quarter. Franklin Resources Inc. now owns 19,480,569 shares of the company's stock worth $1,276,367,000 after purchasing an additional 357,894 shares in the last quarter. Sanders Capital LLC raised its position in AstraZeneca by 1.4% in the 4th 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in AstraZeneca by 13.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,322,388 shares of the company's stock worth $348,730,000 after acquiring an additional 636,537 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, BNP Paribas initiated coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

AstraZeneca Price Performance

NASDAQ:AZN traded up $0.80 on Wednesday, hitting $70.82. The company had a trading volume of 3,665,416 shares, compared to its average volume of 5,267,827. The firm has a 50 day moving average of $70.74 and a two-hundred day moving average of $70.71. The stock has a market capitalization of $219.64 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.29 and a beta of 0.37. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $13.71 billion. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 earnings per share. On average, research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

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.