Manning & Napier Advisors LLC Sells 220,770 Shares of Astrazeneca Plc $AZN

Key Points

• Manning & Napier Advisors LLC cut its AstraZeneca stake by 12.5% in the fourth quarter, selling 220,770 shares and leaving it with 1,541,423 shares worth about $270.5 million.
• AstraZeneca reported better-than-expected quarterly results, posting EPS of $2.58 versus $2.52 estimated and revenue of $15.29 billion versus $14.93 billion expected.
• Analyst sentiment remains constructive, with multiple firms reiterating or initiating buy ratings and a consensus price target of $205.33, above the stock’s recent price of $182.71.

Manning & Napier Advisors LLC trimmed its holdings in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,541,423 shares of the company's stock after selling 220,770 shares during the period. Astrazeneca makes up 3.5% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 4th largest holding. Manning & Napier Advisors LLC's holdings in Astrazeneca were worth $270,520,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Ethic Inc. increased its position in Astrazeneca by 14.6% in the 4th quarter. Ethic Inc. now owns 96,702 shares of the company's stock valued at $16,971,000 after buying an additional 12,320 shares in the last quarter. Ballentine Partners LLC raised its stake in Astrazeneca by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 36,623 shares of the company's stock worth $6,427,000 after buying an additional 1,617 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC boosted its holdings in Astrazeneca by 1.9% in the fourth quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 5,336 shares of the company's stock worth $936,000 after acquiring an additional 98 shares in the last quarter. Diversify Wealth Management LLC grew its stake in Astrazeneca by 45.5% in the fourth quarter. Diversify Wealth Management LLC now owns 4,174 shares of the company's stock valued at $733,000 after acquiring an additional 1,305 shares during the period. Finally, Luken Investment Analytics LLC grew its stake in Astrazeneca by 4.3% in the fourth quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company's stock valued at $274,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

Astrazeneca Stock Performance

Shares of Astrazeneca stock opened at $182.71 on Friday. Astrazeneca Plc has a 52 week low of $132.32 and a 52 week high of $212.71. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $194.66 and a 200-day moving average price of $180.88. The company has a market cap of $283.37 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.50 and a beta of 0.26.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.06. The company had revenue of $15.29 billion for the quarter, compared to analysts' expectations of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Equities analysts anticipate that Astrazeneca Plc will post 10.26 earnings per share for the current fiscal year.

Astrazeneca Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, February 20th were issued a dividend of $1.595 per share. This represents a yield of 156.0%. The ex-dividend date of this dividend was Friday, February 20th. Astrazeneca's payout ratio is currently 65.17%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Monday, May 4th. Jefferies Financial Group reissued a "buy" rating on shares of Astrazeneca in a research report on Thursday, April 30th. Citigroup started coverage on shares of Astrazeneca in a research note on Tuesday, January 27th. They set a "buy" rating for the company. Wall Street Zen upgraded shares of Astrazeneca from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, UBS Group reiterated a "buy" rating on shares of Astrazeneca in a report on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Astrazeneca presently has an average rating of "Moderate Buy" and a consensus price target of $205.33.

About Astrazeneca

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.

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