Quantbot Technologies LP Buys 27,059 Shares of AstraZeneca PLC $AZN

Key Points

• Quantbot Technologies LP significantly increased its position in AstraZeneca PLC by 136.6%, owning 46,873 shares valued at approximately $3.45 million as of the most recent reporting period.
• AstraZeneca's recent quarterly earnings met analysts' expectations, reporting $1.09 EPS and $14.46 billion in revenue, which is a 16.1% increase year-over-year.
• Berenberg Bank has set a new target price of $97.00 for AstraZeneca shares, alongside a consensus rating of "Moderate Buy" from several analysts.

Quantbot Technologies LP boosted its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 136.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,873 shares of the company's stock after purchasing an additional 27,059 shares during the period. Quantbot Technologies LP's holdings in AstraZeneca were worth $3,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of AstraZeneca by 189.3% during the fourth quarter. Bank of America Corp DE now owns 24,026,966 shares of the company's stock valued at $1,574,247,000 after acquiring an additional 15,722,197 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of AstraZeneca by 30.9% during the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company's stock valued at $1,003,124,000 after buying an additional 3,224,251 shares during the last quarter. Boston Partners grew its holdings in shares of AstraZeneca by 35.9% during the first quarter. Boston Partners now owns 5,036,645 shares of the company's stock valued at $368,712,000 after buying an additional 1,329,166 shares during the last quarter. Northern Trust Corp grew its holdings in shares of AstraZeneca by 25.5% during the fourth quarter. Northern Trust Corp now owns 4,692,678 shares of the company's stock valued at $307,464,000 after buying an additional 952,010 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in AstraZeneca by 9.1% during the fourth quarter. Ameriprise Financial Inc. now owns 4,681,303 shares of the company's stock valued at $306,436,000 after purchasing an additional 390,407 shares during the period. 20.35% of the stock is owned by institutional investors.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded down $0.9660 during mid-day trading on Monday, reaching $80.0040. 1,384,289 shares of the stock were exchanged, compared to its average volume of 5,238,054. The company has a market cap of $248.12 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 1.49 and a beta of 0.36. 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 firm has a 50-day simple moving average of $72.93 and a 200 day simple moving average of $72.25. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its 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. The business had revenue of $14.46 billion during 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 firm's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. On average, sell-side analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal 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 is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's payout ratio is currently 37.97%.

Wall Street Analysts Forecast Growth

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

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.