Wellington Management Group LLP Lowers Stock Holdings in AstraZeneca PLC $AZN

Key Points

• Wellington Management Group LLP reduced its stake in AstraZeneca by 3.8% in the first quarter, selling over 1.4 million shares to retain approximately 35.6 million shares worth $2.62 billion.
• AstraZeneca's recent earnings report showed earnings per share of $1.09, matching analysts' expectations, with revenues of $14.46 billion, exceeding forecasts of $14.08 billion.
• The company declared a semi-annual dividend of $0.505 per share, set to be paid on September 8th, representing a dividend yield of 200.0%.

Wellington Management Group LLP decreased its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,630,680 shares of the company's stock after selling 1,408,205 shares during the period. Wellington Management Group LLP owned approximately 1.15% of AstraZeneca worth $2,618,855,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC increased its holdings in AstraZeneca by 58.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company's stock valued at $960,000 after purchasing an additional 4,811 shares during the period. Farther Finance Advisors LLC increased its holdings in AstraZeneca by 13.1% during the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company's stock valued at $442,000 after purchasing an additional 706 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in AstraZeneca by 1.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 311,600 shares of the company's stock valued at $22,903,000 after purchasing an additional 5,557 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in AstraZeneca by 74.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 36,300 shares of the company's stock valued at $2,378,000 after purchasing an additional 15,499 shares during the period. Finally, Vontobel Holding Ltd. purchased a new position in AstraZeneca during the 1st quarter valued at about $727,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

AstraZeneca stock opened at $79.17 on Monday. The stock's 50 day simple moving average is $72.32 and its two-hundred day simple moving average is $71.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market cap of $245.53 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 1.46 and a beta of 0.36. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68.

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

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

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.

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