Wealth Enhancement Advisory Services LLC Buys 12,427 Shares of AstraZeneca PLC $AZN

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in AstraZeneca PLC by 4.0%, acquiring an additional 12,427 shares and bringing its total holdings to 324,027 shares valued at $22.5 million.
• AstrZeneca announced earnings of $1.09 per share for the last quarter, aligning with analysts' estimates and demonstrating a 16.1% year-over-year revenue increase.
• Separately, Berenberg Bank set a price target of $97.00 for AstraZeneca shares, with a consensus rating of "Moderate Buy" across multiple analysts.

Wealth Enhancement Advisory Services LLC increased its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,027 shares of the company's stock after purchasing an additional 12,427 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in AstraZeneca were worth $22,504,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC boosted its stake in AstraZeneca by 1.9% in the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company's stock valued at $557,000 after acquiring an additional 141 shares during the last quarter. Principal Securities Inc. boosted its stake in AstraZeneca by 0.5% in the first quarter. Principal Securities Inc. now owns 28,053 shares of the company's stock valued at $2,062,000 after acquiring an additional 142 shares during the last quarter. Sage Mountain Advisors LLC boosted its stake in AstraZeneca by 3.4% in the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company's stock valued at $329,000 after acquiring an additional 147 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in AstraZeneca by 0.7% in the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company's stock valued at $1,743,000 after acquiring an additional 155 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its stake in AstraZeneca by 2.0% in the first quarter. Oakworth Capital Inc. now owns 8,575 shares of the company's stock valued at $630,000 after acquiring an additional 167 shares during the last quarter. 20.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca Trading Down 1.0%

Shares of NASDAQ AZN opened at $76.28 on Friday. The company's fifty day moving average is $76.61 and its 200-day moving average is $72.97. The stock has a market cap of $236.57 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.40 and a beta of 0.37. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. 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 (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting analysts' consensus estimates of $1.09. The company had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca's dividend payout ratio (DPR) is currently 37.97%.

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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