M&T Bank Corp Reduces Stake in Astrazeneca Plc $AZN

Key Points

• M&T Bank Corp reduced its position in AstraZeneca by 91.8% in Q4, selling 199,863 shares and leaving 17,787 shares valued at about $1.635 million.
• AstraZeneca beat expectations on April 29 with EPS of $2.58 and revenue of $15.29 billion, and recently paid a $1.595 per share dividend (ex-dividend Feb 20, paid Mar 23).
• Analyst sentiment is mixed but averages a "Moderate Buy"; the stock trades near $186.75 with a market cap of about $289.6 billion and a P/E of 32.17.

M&T Bank Corp reduced its position in Astrazeneca Plc (NYSE:AZN - Free Report) by 91.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,787 shares of the company's stock after selling 199,863 shares during the period. M&T Bank Corp's holdings in Astrazeneca were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AZN. Triumph Capital Management purchased a new position in shares of Astrazeneca in the 3rd quarter worth $25,000. Bangor Savings Bank boosted its stake in shares of Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company's stock worth $28,000 after buying an additional 154 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Astrazeneca in the 4th quarter worth $30,000. Rakuten Investment Management Inc. purchased a new position in shares of Astrazeneca in the 3rd quarter worth $31,000. Finally, YANKCOM Partnership purchased a new position in shares of Astrazeneca in the 4th quarter worth $31,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Astrazeneca Trading Down 0.4%

NYSE AZN opened at $186.75 on Wednesday. The firm has a market cap of $289.63 billion, a P/E ratio of 32.17, a P/E/G ratio of 1.42 and a beta of 0.35. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51. Astrazeneca Plc has a fifty-two week low of $132.32 and a fifty-two week high of $212.71.

Astrazeneca (NYSE:AZN - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $15.29 billion for the quarter, compared to the consensus estimate of $14.74 billion. Astrazeneca had a return on equity of 31.57% and a net margin of 17.41%. As a group, equities research analysts predict that Astrazeneca Plc will post 10.27 earnings per share for the current fiscal year.

Astrazeneca Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, February 20th were issued a dividend of $1.595 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a yield of 156.0%. Astrazeneca's dividend payout ratio (DPR) is currently 74.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen restated a "buy" rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Astrazeneca in a research note on Friday, February 6th. Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Wall Street Zen downgraded Astrazeneca from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Finally, Barclays reiterated an "overweight" rating on shares of Astrazeneca in a research report on Tuesday, January 6th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Astrazeneca currently has an average rating of "Moderate Buy" and an average target price of $102.67.

Astrazeneca Company Profile

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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