AstraZeneca PLC $AZN Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC significantly increased its stake in AstraZeneca PLC by 189.4%, now holding 97,180 shares valued at approximately $7.14 million.
• Several other major hedge funds, including Bank of America and Goldman Sachs, also raised their investments in AstraZeneca, indicating strong institutional interest in the company.
• AstraZeneca has a current consensus rating of "Moderate Buy" with an average target price of $86.00, despite its recent quarterly earnings aligning with consensus estimates at $1.09 EPS.

Vident Advisory LLC raised its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 189.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,180 shares of the company's stock after buying an additional 63,601 shares during the quarter. Vident Advisory LLC's holdings in AstraZeneca were worth $7,143,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new position in shares of AstraZeneca in the fourth quarter valued at $26,000. Confluence Investment Management LLC purchased a new stake in AstraZeneca during the 1st quarter valued at about $27,000. Larson Financial Group LLC lifted its holdings in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock worth $28,000 after buying an additional 289 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in AstraZeneca in the 4th quarter worth approximately $29,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca in the 1st quarter valued at approximately $29,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Down 0.4%

NASDAQ AZN traded down $0.33 during trading hours on Thursday, hitting $81.78. 1,737,532 shares of the company were exchanged, compared to its average volume of 5,181,396. The stock has a 50-day moving average price of $74.43 and a 200 day moving average price of $72.64. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $84.30. The stock has a market cap of $253.64 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.47 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting analysts' consensus estimates of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The company's quarterly revenue was up 16.1% on a year-over-year basis. Analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, AstraZeneca currently has a consensus rating of "Moderate Buy" and an average price target 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.