Naviter Wealth LLC Sells 12,014 Shares of Astrazeneca Plc $AZN

Key Points

• Naviter Wealth sold 12,014 shares of AstraZeneca, trimming its position by 16.7% to 60,013 shares worth $5,517,000, representing about 0.7% of the firm's holdings and its 26th largest holding.
• Analyst consensus is broadly positive with nine Buys and one Sell, an average rating of "Moderate Buy" and an average price target of $95.75.
• AstraZeneca stock opened at $200.71, has a market cap of $311.28 billion, a P/E of 30.64, and recently paid a $1.595 dividend (dividend payout ratio 66.26%).

Naviter Wealth LLC lowered its position in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,013 shares of the company's stock after selling 12,014 shares during the period. Astrazeneca comprises about 0.7% of Naviter Wealth LLC's holdings, making the stock its 26th largest holding. Naviter Wealth LLC's holdings in Astrazeneca were worth $5,517,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bangor Savings Bank increased its holdings in shares of Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company's stock worth $28,000 after buying an additional 154 shares during the period. Triumph Capital Management purchased a new position in Astrazeneca during the 3rd quarter valued at about $25,000. YANKCOM Partnership bought a new position in Astrazeneca during the 4th quarter valued at approximately $31,000. Rakuten Investment Management Inc. bought a new position in Astrazeneca during the 3rd quarter valued at approximately $31,000. Finally, JPL Wealth Management LLC bought a new position in Astrazeneca during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AZN shares. TD Cowen reaffirmed a "buy" rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Astrazeneca in a research report on Friday, February 6th. Weiss Ratings started coverage on Astrazeneca in a research report on Wednesday, March 11th. They set a "buy (b)" rating for the company. Citigroup started coverage on Astrazeneca in a research report on Tuesday, January 27th. They set a "buy" rating for the company. Finally, HSBC reaffirmed a "buy" rating and set a $108.00 price target on shares of Astrazeneca in a research report on Wednesday, December 10th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $95.75.

Astrazeneca Trading Down 1.0%

Shares of AZN stock opened at $200.71 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.94 and a quick ratio of 0.72. The stock has a market capitalization of $311.28 billion, a P/E ratio of 30.64, a PEG ratio of 1.53 and a beta of 0.35. Astrazeneca Plc has a 12 month low of $122.48 and a 12 month high of $212.71.

Astrazeneca Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were given a $1.595 dividend. This represents a yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca's dividend payout ratio (DPR) is presently 66.26%.

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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