Mirae Asset Global Investments Co. Ltd. Acquires 42,665 Shares of Astrazeneca Plc $AZN

Key Points

• Mirae Asset Global Investments increased its AstraZeneca stake by 15.2%, buying 42,665 shares to own 323,229 shares valued at about $29.7 million per its latest SEC filing.
• Analyst sentiment is broadly positive—eight Buy ratings and one Sell produce a consensus of "Moderate Buy" with a consensus target price of $102.67.
• AstraZeneca recently paid a $1.595 dividend (record date Feb 20, paid Mar 23) and reports a payout ratio of 74.83%.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Astrazeneca Plc (NYSE:AZN - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 323,229 shares of the company's stock after purchasing an additional 42,665 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Astrazeneca were worth $29,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Binnacle Investments Inc lifted its holdings in Astrazeneca by 21.8% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $51,000 after buying an additional 118 shares in the last quarter. Chapin Davis Inc. grew its stake in Astrazeneca by 3.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,795 shares of the company's stock worth $291,000 after acquiring an additional 120 shares in the last quarter. 44 Wealth Management LLC grew its stake in Astrazeneca by 0.7% in the 3rd quarter. 44 Wealth Management LLC now owns 16,722 shares of the company's stock worth $1,283,000 after acquiring an additional 124 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Astrazeneca by 30.6% during the third quarter. CoreCap Advisors LLC now owns 534 shares of the company's stock worth $41,000 after acquiring an additional 125 shares during the period. Finally, Highline Wealth Partners LLC increased its position in shares of Astrazeneca by 32.0% during the third quarter. Highline Wealth Partners LLC now owns 532 shares of the company's stock worth $41,000 after acquiring an additional 129 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen reiterated a "buy" rating on shares of Astrazeneca in a report on Wednesday, March 18th. Weiss Ratings initiated coverage on Astrazeneca in a report on Wednesday, March 11th. They set a "buy (b)" rating on the stock. Barclays reiterated an "overweight" rating on shares of Astrazeneca in a report on Tuesday, January 6th. Citigroup began coverage on Astrazeneca in a research report on Tuesday, January 27th. They set a "buy" rating on the stock. Finally, Wall Street Zen lowered Astrazeneca from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.67.

Astrazeneca Price Performance

Shares of NYSE:AZN opened at $205.03 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $317.98 billion, a P/E ratio of 35.32, a price-to-earnings-growth ratio of 1.51 and a beta of 0.35. Astrazeneca Plc has a 52 week low of $132.32 and a 52 week high of $212.71.

Astrazeneca Announces Dividend

The business also recently declared a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were given a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend was Friday, February 20th. Astrazeneca's payout ratio is presently 74.83%.

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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