Ritholtz Wealth Management Increases Stake in AstraZeneca PLC (NASDAQ:AZN)

Ritholtz Wealth Management grew its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,471 shares of the company's stock after purchasing an additional 7,101 shares during the period. Ritholtz Wealth Management's holdings in AstraZeneca were worth $5,547,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AZN. Capital International Investors grew its stake in AstraZeneca by 1.9% during the fourth quarter. Capital International Investors now owns 37,507,159 shares of the company's stock valued at $2,457,706,000 after acquiring an additional 686,008 shares in the last quarter. Bank of America Corp DE grew its stake in 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 in the last quarter. Franklin Resources Inc. grew its stake in AstraZeneca by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 19,480,569 shares of the company's stock valued at $1,276,367,000 after acquiring an additional 357,894 shares in the last quarter. Sanders Capital LLC grew its stake in AstraZeneca by 1.4% during the fourth quarter. Sanders Capital LLC now owns 15,186,692 shares of the company's stock valued at $995,032,000 after acquiring an additional 212,301 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in AstraZeneca by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company's stock valued at $718,090,000 after acquiring an additional 479,692 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas started coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $85.00.

AstraZeneca Price Performance

AZN stock traded down $0.58 during midday trading on Friday, reaching $74.42. The company had a trading volume of 3,131,183 shares, compared to its average volume of 5,202,775. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68. The company has a market capitalization of $230.80 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.42 and a beta of 0.38. The firm has a 50-day moving average price of $69.81 and a 200-day moving average price of $70.29.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. The business had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. During the same quarter in the previous year, the company earned $2.06 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

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.