Wealthspire Advisors LLC Grows Position in AstraZeneca PLC (NASDAQ:AZN)

Key Points

• Wealthspire Advisors LLC increased its stake in AstraZeneca PLC by 1,184.1%, bringing its total holdings to 45,933 shares valued at approximately $3.38 million.
• AstraZeneca reported a net revenue increase of 16.1% year-over-year for the latest quarter, totaling $14.46 billion, with an earnings per share (EPS) of $1.09.
• Analysts have set a consensus rating of "Moderate Buy" for AstraZeneca, with an average price target of $89.00, while the latest disclosed semi-annual dividend is $0.505 per share.

Wealthspire Advisors LLC increased its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1,184.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,933 shares of the company's stock after acquiring an additional 42,356 shares during the period. Wealthspire Advisors LLC's holdings in AstraZeneca were worth $3,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in shares of AstraZeneca during the fourth quarter valued at $26,000. Confluence Investment Management LLC bought a new position in AstraZeneca during the 1st quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after acquiring an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of AstraZeneca during the 4th quarter valued at about $29,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of AstraZeneca in the first quarter worth approximately $29,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN traded down $1.01 during midday trading on Friday, hitting $73.56. The company had a trading volume of 4,986,197 shares, compared to its average volume of 5,348,094. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $87.68. The company has a fifty day moving average of $71.84 and a two-hundred day moving average of $71.59. The company has a market cap of $228.13 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.37 and a beta of 0.36. 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 released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same period in the prior year, the firm posted $1.24 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be given a dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca's dividend payout ratio (DPR) is presently 77.44%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AZN shares. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research report on Wednesday, July 9th. BNP Paribas assumed coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an "outperform" rating and a $75.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

About AstraZeneca

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.