Mengis Capital Management Inc. Boosts Stock Position in AstraZeneca PLC $AZN

Key Points

• Mengis Capital Management increased its stake in AstraZeneca by 19.2% in Q3 to 86,842 shares worth $6.66 million, making AZN 1.3% of Mengis’s portfolio and its 18th largest holding.
• Multiple other institutional investors also boosted positions in AZN and institutional ownership stands at 20.35%, with several funds posting double-digit percentage increases in the quarter.
• Wall Street sentiment is broadly positive with 9 Buy and 1 Sell rating, a consensus designation of "Moderate Buy" and a consensus price target of $95.75; the company also announced a $1.595 dividend (ex-dividend Feb 20, payable Mar 23).

Mengis Capital Management Inc. lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 19.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,842 shares of the company's stock after buying an additional 13,982 shares during the period. AstraZeneca comprises 1.3% of Mengis Capital Management Inc.'s investment portfolio, making the stock its 18th largest position. Mengis Capital Management Inc.'s holdings in AstraZeneca were worth $6,663,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AZN. Cibc World Market Inc. grew its holdings in shares of AstraZeneca by 21.5% during the 3rd quarter. Cibc World Market Inc. now owns 64,421 shares of the company's stock valued at $4,942,000 after purchasing an additional 11,398 shares during the last quarter. TD Asset Management Inc lifted its stake in AstraZeneca by 20.0% in the third quarter. TD Asset Management Inc now owns 1,089,612 shares of the company's stock worth $83,595,000 after purchasing an additional 181,273 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in AstraZeneca by 111.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 66,643 shares of the company's stock valued at $5,113,000 after buying an additional 35,148 shares during the period. AMG National Trust Bank grew its stake in shares of AstraZeneca by 20.4% during the third quarter. AMG National Trust Bank now owns 42,983 shares of the company's stock valued at $3,298,000 after buying an additional 7,289 shares during the last quarter. Finally, Oxbow Advisors LLC increased its holdings in shares of AstraZeneca by 96.2% in the third quarter. Oxbow Advisors LLC now owns 77,594 shares of the company's stock worth $5,953,000 after buying an additional 38,043 shares during the period. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "buy (b)" rating on shares of AstraZeneca in a report on Wednesday, January 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $103.00 price target on shares of AstraZeneca in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of AstraZeneca in a research note on Friday, February 6th. Guggenheim restated a "buy" rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Finally, Barclays reaffirmed an "overweight" rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Nine investment 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 target price of $95.75.

AstraZeneca Stock Up 0.2%

Shares of NASDAQ AZN opened at $202.22 on Thursday. The firm has a fifty day simple moving average of $142.56 and a two-hundred day simple moving average of $104.80. AstraZeneca PLC has a 12 month low of $122.48 and a 12 month high of $212.71. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $313.62 billion, a PE ratio of 67.18, a price-to-earnings-growth ratio of 1.59 and a beta of 0.34.

AstraZeneca Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be issued a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a yield of 156.0%. AstraZeneca's dividend payout ratio (DPR) is 74.83%.

About AstraZeneca

AstraZeneca is a global, science-led 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's operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.

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