Phoenix Financial Ltd. Sells 344,407 Shares of AstraZeneca PLC $AZN

Key Points

• Phoenix Financial Ltd. has reduced its stake in AstraZeneca PLC by 29.8%, selling 344,407 shares and leaving it with 811,598 shares valued at approximately $56.7 million.
• Institutional investors in AstraZeneca demonstrated recent activity, with firms like SCS Capital Management and Oliver Luxxe Assets acquiring new positions and increasing their holdings.
• AstraZeneca's stock currently holds a consensus "Moderate Buy" rating, with price targets varying among analysts, including a suggested price of $97.00 from Berenberg Bank.

Phoenix Financial Ltd. lessened its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 811,598 shares of the company's stock after selling 344,407 shares during the period. Phoenix Financial Ltd.'s holdings in AstraZeneca were worth $56,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SCS Capital Management LLC bought a new position in shares of AstraZeneca in the 1st quarter worth approximately $3,066,000. Robbins Farley bought a new position in shares of AstraZeneca in the 2nd quarter worth approximately $1,857,000. Oliver Luxxe Assets LLC increased its holdings in AstraZeneca by 6.0% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company's stock worth $5,472,000 after acquiring an additional 4,449 shares in the last quarter. Alhambra Investment Management LLC purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $320,000. Finally, Community Trust & Investment Co. increased its holdings 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. Institutional investors own 20.35% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of AstraZeneca in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a "hold" rating to a "sell" rating in a report on Thursday, October 16th. Finally, Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca Trading Down 1.0%

AstraZeneca stock opened at $83.87 on Tuesday. The stock has a market cap of $260.11 billion, a P/E ratio of 31.53, a PEG ratio of 1.56 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $86.57. The firm's 50 day moving average price is $80.42 and its 200-day moving average price is $73.97.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released 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. 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 company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. On average, equities analysts predict 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 was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) 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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