Natixis Advisors LLC Raises Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Natixis Advisors LLC increased its stake in AstraZeneca PLC by 8.5%, owning 2,236,011 shares valued at approximately $164.35 million as of the latest SEC filing.
• AstraZeneca reported quarterly earnings of $1.09 per share and revenues of $14.46 billion, surpassing analyst estimates and showing a year-over-year revenue growth of 16.1%.
• The stock has an average price target of $89.00, with analysts rating it as a "Moderate Buy" and several firms providing positive outlooks for the company's future performance.

Natixis Advisors LLC lifted its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,236,011 shares of the company's stock after purchasing an additional 175,813 shares during the period. Natixis Advisors LLC owned 0.07% of AstraZeneca worth $164,347,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AZN. Banque Transatlantique SA bought a new position in AstraZeneca in the 4th quarter worth approximately $26,000. Confluence Investment Management LLC bought a new position in AstraZeneca in the 1st quarter worth approximately $27,000. Larson Financial Group LLC boosted its holdings in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after buying an additional 289 shares during the period. Mascagni Wealth Management Inc. bought a new position in AstraZeneca in the 4th quarter worth approximately $29,000. Finally, FNY Investment Advisers LLC bought a new position in AstraZeneca in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

NASDAQ:AZN traded down $3.50 during trading hours on Thursday, hitting $73.09. The stock had a trading volume of 8,598,649 shares, compared to its average volume of 4,911,597. The company has a 50 day simple moving average of $71.48 and a two-hundred day simple moving average of $71.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.70. The firm has a market capitalization of $226.68 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.41 and a beta of 0.37. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. Research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given a dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is 82.73%.

Wall Street Analyst Weigh In

Several research analysts have commented on AZN shares. BNP Paribas started coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target for the company. Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

AstraZeneca Company Profile

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.