Marks Group Wealth Management Inc Sells 12,673 Shares of AstraZeneca PLC $AZN

Key Points

• Marks Group Wealth Management Inc has reduced its holdings in AstraZeneca PLC by 30.7%, selling 12,673 shares and now owning 28,554 shares valued at approximately $1,995,000.
• AstraZeneca's stock is currently rated as a "Moderate Buy" with a consensus target price of $86.00, following various analysts' upgrades and a recently set price objective of $97.00.
• The company's most recent earnings report indicated an EPS of $1.09, matching expectations, and a year-over-year revenue increase of 16.1%, with total revenue of $14.46 billion.

Marks Group Wealth Management Inc cut its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 30.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,554 shares of the company's stock after selling 12,673 shares during the period. Marks Group Wealth Management Inc's holdings in AstraZeneca were worth $1,995,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC raised its position in shares of AstraZeneca by 1.9% during the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock valued at $557,000 after purchasing an additional 141 shares during the period. Principal Securities Inc. raised its position in shares of AstraZeneca by 0.5% during the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock valued at $2,062,000 after purchasing an additional 142 shares during the period. Sage Mountain Advisors LLC raised its position in shares of AstraZeneca by 3.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock valued at $329,000 after purchasing an additional 147 shares during the period. Evergreen Capital Management LLC raised its position in shares of AstraZeneca by 0.7% during the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock valued at $1,743,000 after purchasing an additional 155 shares during the period. Finally, Grimes & Company Inc. raised its position in shares of AstraZeneca by 3.0% during the 2nd quarter. Grimes & Company Inc. now owns 5,290 shares of the company's stock valued at $370,000 after purchasing an additional 155 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AZN shares. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AstraZeneca in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $85.31 on Monday. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $85.50. The stock has a market capitalization of $264.58 billion, a P/E ratio of 32.07, a PEG ratio of 1.57 and a beta of 0.36. The firm has a fifty day simple moving average of $78.04 and a two-hundred day simple moving average of $73.05. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. On average, analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

AstraZeneca Company 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.

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