Mitsubishi UFJ Asset Management Co. Ltd. Acquires 4,905 Shares of AstraZeneca PLC (NASDAQ:AZN)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,246 shares of the company's stock after acquiring an additional 4,905 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in AstraZeneca were worth $3,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Confluence Investment Management LLC acquired a new stake in AstraZeneca in the first quarter valued at $27,000. Larson Financial Group LLC grew its position in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of AstraZeneca in the first quarter valued at about $29,000. Costello Asset Management INC bought a new position in shares of AstraZeneca during the first quarter worth about $29,000. Finally, Banque Transatlantique SA acquired a new position in shares of AstraZeneca in the 4th quarter worth approximately $26,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

Shares of AstraZeneca stock traded up $0.70 during mid-day trading on Friday, hitting $79.17. 4,760,279 shares of the stock were exchanged, compared to its average volume of 5,576,905. The company has a market capitalization of $245.54 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.46 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The company has a 50-day simple moving average of $72.32 and a 200 day simple moving average of $71.91. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting 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 return on equity of 32.84% and a net margin of 14.68%. The business's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. Sell-side analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be paid a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's payout ratio is presently 37.97%.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.

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.