Spartan Wealth Advisory Services LLC Acquires New Stake in Astrazeneca Plc $AZN

Key Points

• Spartan Wealth Advisory Services opened a new position in Astrazeneca during the first quarter, buying 10,918 shares valued at about $2.15 million.
• Astrazeneca reported better-than-expected quarterly results, with EPS of $2.58 versus estimates of $2.52 and revenue of $15.29 billion versus expectations of $14.93 billion.
• Analyst sentiment remains positive, with 13 Buy ratings and a MarketBeat consensus of “Moderate Buy”; the average target price is $211.

Spartan Wealth Advisory Services LLC bought a new position in Astrazeneca Plc (NYSE:AZN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,918 shares of the company's stock, valued at approximately $2,153,000.

Several other institutional investors and hedge funds have also bought and sold shares of AZN. Fisher Asset Management LLC increased its position in shares of Astrazeneca by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 21,601,433 shares of the company's stock valued at $3,791,051,000 after purchasing an additional 438,709 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Astrazeneca by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 20,157,744 shares of the company's stock worth $3,537,684,000 after buying an additional 445,014 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Astrazeneca by 3.2% in the fourth quarter. Morgan Stanley now owns 13,878,726 shares of the company's stock worth $2,435,716,000 after buying an additional 432,939 shares during the last quarter. Bank of New York Mellon Corp grew its position in Astrazeneca by 546.1% during the first quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company's stock valued at $1,315,026,000 after buying an additional 5,635,812 shares during the period. Finally, Citigroup Inc. grew its position in Astrazeneca by 65.3% during the fourth quarter. Citigroup Inc. now owns 6,154,760 shares of the company's stock valued at $1,080,160,000 after buying an additional 2,431,890 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Price Performance

Shares of NYSE:AZN opened at $168.81 on Friday. The company has a market capitalization of $261.82 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.37 and a beta of 0.24. Astrazeneca Plc has a 1-year low of $137.23 and a 1-year high of $212.71. The firm's 50 day simple moving average is $182.16 and its two-hundred day simple moving average is $188.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.71.

Astrazeneca (NYSE:AZN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.06. The firm had revenue of $15.29 billion during the quarter, compared to analysts' expectations of $14.93 billion. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. Research analysts expect that Astrazeneca Plc will post 10.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. DZ Bank raised shares of Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. UBS Group reissued a "buy" rating on shares of Astrazeneca in a research report on Friday, April 10th. JPMorgan Chase & Co. restated a "buy" rating on shares of Astrazeneca in a research note on Tuesday, June 30th. Bank of America reaffirmed a "buy" rating on shares of Astrazeneca in a report on Wednesday, July 1st. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $211.00.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

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