M&T Bank Corp Grows Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

M&T Bank Corp grew its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 254,850 shares of the company's stock after purchasing an additional 11,672 shares during the quarter. M&T Bank Corp's holdings in AstraZeneca were worth $18,732,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Confluence Investment Management LLC bought a new stake in shares of AstraZeneca in the 1st quarter valued at about $27,000. FNY Investment Advisers LLC bought a new position in shares of AstraZeneca during the 1st quarter worth approximately $29,000. Banque Transatlantique SA bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $26,000. Highline Wealth Partners LLC raised its stake in shares of AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock worth $31,000 after acquiring an additional 340 shares in the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $29,000. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AZN. BNP Paribas began coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.00.

AstraZeneca Stock Performance

NASDAQ:AZN traded down $0.68 during trading hours on Friday, hitting $71.13. 2,729,851 shares of the company were exchanged, compared to its average volume of 5,279,228. The stock has a market capitalization of $220.60 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 1.31 and a beta of 0.37. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70. The company's 50 day moving average price is $70.72 and its 200-day moving average price is $70.81.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. AstraZeneca's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 EPS. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

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.