Royal Bank of Canada Raises Stock Holdings in AstraZeneca PLC $AZN

Key Points

• The Royal Bank of Canada increased its stake in AstraZeneca PLC by 4.0%, owning 2,529,394 shares worth approximately $185.9 million as of the recent SEC filing.
• Institutional investors now hold 20.35% of AstraZeneca shares, with significant increases from firms like DRW Securities and OLD Mission Capital.
• AstraZeneca recently announced a semi-annual dividend of $0.505 per share, with a payout ratio of 37.97%.

Royal Bank of Canada increased its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,529,394 shares of the company's stock after purchasing an additional 96,583 shares during the quarter. Royal Bank of Canada owned 0.08% of AstraZeneca worth $185,910,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AZN. Banque Transatlantique SA acquired a new stake in shares of AstraZeneca during the fourth quarter worth $26,000. Confluence Investment Management LLC acquired a new stake in shares of AstraZeneca during the first quarter worth $27,000. Larson Financial Group LLC lifted its holdings in shares of AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after purchasing an additional 289 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of AstraZeneca during the fourth quarter worth $29,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of AstraZeneca during the first quarter worth $29,000. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

AstraZeneca stock traded down $0.08 during trading hours on Friday, hitting $81.70. The stock had a trading volume of 2,464,382 shares, compared to its average volume of 3,476,772. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The stock has a market capitalization of $253.38 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 1.50 and a beta of 0.37. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $84.30. The stock's fifty day moving average is $74.90 and its two-hundred day moving average is $72.73.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.AstraZeneca's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. As a group, 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 will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date is Friday, August 8th. AstraZeneca's dividend payout ratio is currently 37.97%.

Analysts Set New Price Targets

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a 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 stock. According to data from MarketBeat.com, AstraZeneca has a consensus 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.