Raymond James Financial Inc. Sells 116,167 Shares of AstraZeneca PLC $AZN

Key Points

• Raymond James Financial Inc. reduced its holdings in AstraZeneca PLC by 4.8%, owning approximately 2.3 million shares valued at $168.73 million after selling 116,167 shares.
• AstraZeneca reported a revenue of $14.46 billion for the quarter, exceeding analyst estimates of $14.08 billion, along with an EPS of $1.09.
• The company declared a semi-annual dividend of $0.505 per share, with an ex-dividend date of August 8, reflecting a dividend yield of 200.0%.

Raymond James Financial Inc. reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,295,589 shares of the company's stock after selling 116,167 shares during the period. Raymond James Financial Inc. owned approximately 0.07% of AstraZeneca worth $168,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of AstraZeneca in the 4th quarter valued at $26,000. Confluence Investment Management LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at $27,000. Larson Financial Group LLC boosted its position in shares of AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of AstraZeneca in the 4th quarter valued at $29,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Up 0.6%

Shares of AZN traded up $0.4750 during midday trading on Friday, reaching $80.9350. 2,878,158 shares of the stock were exchanged, compared to its average volume of 5,257,516. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The firm has a 50 day simple moving average of $72.80 and a 200-day simple moving average of $72.16. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a market cap of $251.01 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 1.48 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share 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 company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. During the same period last year, the business earned $1.24 EPS. The business's quarterly revenue was up 16.1% on a year-over-year basis. Research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock 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.