OLD Mission Capital LLC Grows Stock Position in AstraZeneca PLC $AZN

Key Points

• OLD Mission Capital LLC significantly increased its stake in AstraZeneca PLC by 3,557.2%, owning 144,202 shares valued at nearly $10.6 million.
• AstraZeneca's recent earnings report showed a net revenue of $14.46 billion, surpassing analyst estimates, although earnings per share met expectations at $1.09.
• The company recently announced a semi-annual dividend of $0.505 per share, with a payout ratio of 37.97%, reflecting its commitment to returning value to shareholders.

OLD Mission Capital LLC grew its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 3,557.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,202 shares of the company's stock after buying an additional 140,259 shares during the quarter. OLD Mission Capital LLC's holdings in AstraZeneca were worth $10,599,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its holdings in shares of AstraZeneca by 58.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after buying an additional 4,811 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of AstraZeneca by 13.1% in the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock valued at $442,000 after buying an additional 706 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AstraZeneca by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 311,600 shares of the company's stock valued at $22,903,000 after buying an additional 5,557 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of AstraZeneca by 74.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 36,300 shares of the company's stock valued at $2,378,000 after buying an additional 15,499 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of AstraZeneca in the 1st quarter valued at approximately $727,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

AstraZeneca Price Performance

AstraZeneca stock traded up $1.61 during midday trading on Wednesday, reaching $81.80. 2,188,824 shares of the company were exchanged, compared to its average volume of 5,189,485. The company has a market capitalization of $253.68 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.47 and a beta of 0.37. The firm's 50-day simple moving average is $74.18 and its 200-day simple moving average is $72.58. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $85.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

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

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be given a dividend of $0.505 per share. This represents a yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

AstraZeneca 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.