Phillips Wealth Planners LLC Purchases 3,447 Shares of AstraZeneca PLC $AZN

Key Points

• Phillips Wealth Planners LLC increased its stake in AstraZeneca PLC by 67.9%, acquiring an additional 3,447 shares to reach a total of 8,522 shares worth $597,000.
• Several other institutional investors, such as Brighton Jones LLC and Toronto Dominion Bank, also significantly boosted their holdings in AstraZeneca during the fourth quarter.
• AstraZeneca reported $1.09 earnings per share for the most recent quarter, meeting analysts' expectations, and had revenue of $14.46 billion, exceeding estimates of $14.08 billion.

Phillips Wealth Planners LLC grew its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 67.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,522 shares of the company's stock after buying an additional 3,447 shares during the quarter. Phillips Wealth Planners LLC's holdings in AstraZeneca were worth $597,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Diversified Trust Co raised its stake in AstraZeneca by 17.4% during the second quarter. Diversified Trust Co now owns 7,125 shares of the company's stock valued at $498,000 after buying an additional 1,056 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in AstraZeneca by 50.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,167,516 shares of the company's stock worth $81,586,000 after purchasing an additional 392,843 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AstraZeneca during the 2nd quarter valued at about $811,000. Fulton Bank N.A. raised its position in AstraZeneca by 5.2% in the 2nd quarter. Fulton Bank N.A. now owns 16,042 shares of the company's stock worth $1,121,000 after purchasing an additional 790 shares during the period. Finally, Community Trust & Investment Co. grew its stake in AstraZeneca by 21.2% in the 2nd quarter. Community Trust & Investment Co. now owns 226,161 shares of the company's stock worth $15,804,000 after acquiring an additional 39,488 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

AstraZeneca Price Performance

Shares of AstraZeneca stock traded down $1.32 during trading on Tuesday, reaching $76.18. The company's stock had a trading volume of 1,875,807 shares, compared to its average volume of 5,077,903. The stock has a 50-day moving average price of $76.73 and a two-hundred day moving average price of $72.94. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $236.25 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.40 and a beta of 0.37. AstraZeneca PLC has a one year low of $61.24 and a one year high of $82.41.

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

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca's payout ratio is currently 37.97%.

About AstraZeneca

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.