Norinchukin Bank The Boosts Holdings in AstraZeneca PLC $AZN

Key Points

• Norinchukin Bank has increased its stake in AstraZeneca PLC by 177.5%, now holding 15,621 shares worth approximately $1,148,000.
• Analysts at Berenberg Bank have set a price target of $97.00 for AstraZeneca, with the stock currently rated as a "Moderate Buy" with a consensus target of $86.00.
• AstraZeneca recently declared a semi-annual dividend of $0.505 per share, with a dividend yield of 200.0% and a payout ratio of 37.97%.

Norinchukin Bank The lifted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 177.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,621 shares of the company's stock after purchasing an additional 9,991 shares during the quarter. Norinchukin Bank The's holdings in AstraZeneca were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca Price Performance

NASDAQ AZN opened at $80.97 on Friday. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $87.68. The firm has a market capitalization of $251.12 billion, a P/E ratio of 30.44, a PEG ratio of 1.49 and a beta of 0.36. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $72.93 and a 200-day moving average price of $72.25.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently declared 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 of this dividend is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio is presently 37.97%.

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.

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