Truist Financial Corp Purchases 461,568 Shares of AstraZeneca PLC (NASDAQ:AZN)

Truist Financial Corp raised its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 189.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 705,491 shares of the company's stock after purchasing an additional 461,568 shares during the quarter. Truist Financial Corp's holdings in AstraZeneca were worth $51,854,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in AstraZeneca by 93.2% in the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company's stock worth $379,000 after purchasing an additional 2,789 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in AstraZeneca by 23.3% in the fourth quarter. Jones Financial Companies Lllp now owns 16,228 shares of the company's stock worth $1,063,000 after purchasing an additional 3,066 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in AstraZeneca by 53.9% in the fourth quarter. Victory Capital Management Inc. now owns 404,070 shares of the company's stock worth $26,475,000 after purchasing an additional 141,517 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in AstraZeneca by 5.9% in the fourth quarter. Proficio Capital Partners LLC now owns 10,806 shares of the company's stock worth $708,000 after purchasing an additional 598 shares in the last quarter. Finally, Aigen Investment Management LP boosted its holdings in AstraZeneca by 69.1% during the fourth quarter. Aigen Investment Management LP now owns 6,679 shares of the company's stock valued at $438,000 after acquiring an additional 2,729 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas started coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, AstraZeneca presently has a consensus rating of "Moderate Buy" and a consensus target price of $85.00.

AstraZeneca Trading Up 1.1%

Shares of NASDAQ AZN traded up $0.77 during midday trading on Wednesday, hitting $70.79. The stock had a trading volume of 3,047,825 shares, compared to its average volume of 5,375,052. The company's 50-day simple moving average is $70.74 and its 200 day simple moving average is $70.71. The firm has a market cap of $219.54 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 1.28 and a beta of 0.37. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $13.59 billion during the quarter, compared to analysts' expectations of $13.71 billion. AstraZeneca had a return on equity of 33.14% and a net margin of 14.14%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 earnings per share. Research analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

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.