Sagespring Wealth Partners LLC Purchases 3,010 Shares of AstraZeneca PLC $AZN

Key Points

• Sagespring Wealth Partners LLC increased its stake in AstraZeneca PLC by 21.4% during the second quarter, acquiring an additional 3,010 shares, bringing its total to 17,094 shares valued at approximately $1.195 million.
• AstraZeneca reported $14.46 billion in revenue for the latest quarter, exceeding analysts' expectations, and its earnings per share matched consensus estimates at $1.09.
• The company recently announced a semi-annual dividend of $0.505 per share, reflecting a yield of 200.0%, despite a slight decrease in its payout ratio to 37.97%.

Sagespring Wealth Partners LLC grew its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 21.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,094 shares of the company's stock after acquiring an additional 3,010 shares during the period. Sagespring Wealth Partners LLC's holdings in AstraZeneca were worth $1,195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZN. Lindbrook Capital LLC raised 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 valued at $557,000 after buying an additional 141 shares in the last quarter. Principal Securities Inc. raised 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 valued at $2,062,000 after buying an additional 142 shares in the last quarter. Sage Mountain Advisors LLC raised 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 valued at $329,000 after buying an additional 147 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of AstraZeneca by 59.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company's stock valued at $28,000 after buying an additional 149 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of AstraZeneca by 0.7% in the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock valued at $1,743,000 after buying an additional 155 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

AZN stock opened at $84.83 on Thursday. The company has a 50 day simple moving average of $79.82 and a 200 day simple moving average of $73.69. The stock has a market cap of $263.09 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 1.56 and a beta of 0.36. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67.

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, hitting analysts' consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. During the same period in the previous year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research report on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

AstraZeneca Company 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.

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