Polar Asset Management Partners Inc. Trims Stake in AstraZeneca PLC $AZN

Key Points

• Polar Asset Management Partners Inc. reduced its stake in AstraZeneca PLC by 95.9%, now owning just 7,930 shares valued at $583,000 after selling 186,870 shares.
• AstraZeneca reported earnings of $1.09 per share for the last quarter, meeting analysts' expectations, with a revenue increase of 16.1% year-over-year.
• The company has announced a semi-annual dividend of $0.505 per share, with a payout ratio of 37.97%, and the dividend yield is reported at 200.0%.

Polar Asset Management Partners Inc. reduced its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 95.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,930 shares of the company's stock after selling 186,870 shares during the period. Polar Asset Management Partners Inc.'s holdings in AstraZeneca were worth $583,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Lindbrook Capital LLC grew its position in shares of AstraZeneca by 1.9% in the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock worth $557,000 after buying an additional 141 shares during the last quarter. Principal Securities Inc. grew its position in shares of AstraZeneca by 0.5% in the 1st quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock worth $2,062,000 after buying an additional 142 shares during the last quarter. Sage Mountain Advisors LLC grew its position in shares of AstraZeneca by 3.4% in the 1st quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock worth $329,000 after buying an additional 147 shares during the last quarter. CoreCap Advisors LLC grew its position in shares of AstraZeneca by 31.8% in the 4th quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock worth $42,000 after buying an additional 155 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in AstraZeneca by 0.7% in the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock worth $1,743,000 after purchasing an additional 155 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AstraZeneca stock traded down $0.41 during midday trading on Wednesday, reaching $80.81. 2,112,462 shares of the stock traded hands, compared to its average volume of 5,124,892. The stock has a market cap of $250.62 billion, a P/E ratio of 30.38, a PEG ratio of 1.50 and a beta of 0.37. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $82.41. The stock's fifty day moving average is $75.33 and its 200-day moving average is $72.84. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.