Wesbanco Bank Inc. Boosts Stock Position in AstraZeneca PLC $AZN

Key Points

• Wesbanco Bank Inc. increased its stake in AstraZeneca PLC by 11.8%, acquiring an additional 13,069 shares during the second quarter, bringing their total holdings to 123,646 shares worth approximately $8.64 million.
• AstraZeneca recently reported earnings of $1.09 per share, meeting analyst expectations, and a revenue of $14.46 billion for the quarter, exceeding the projected $14.08 billion.
• The company declared a semi-annual dividend of $0.505 per share, with a yield of 200.0%, while maintaining a dividend payout ratio of 37.97%.

Wesbanco Bank Inc. boosted its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 11.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,646 shares of the company's stock after buying an additional 13,069 shares during the quarter. Wesbanco Bank Inc.'s holdings in AstraZeneca were worth $8,640,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Confluence Investment Management LLC purchased a new position in AstraZeneca in the first quarter valued at $27,000. Larson Financial Group LLC increased its holdings in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company's stock valued at $28,000 after buying an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in AstraZeneca in the fourth quarter valued at $29,000. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca during the first quarter worth about $29,000. Finally, Costello Asset Management INC purchased a new position in shares of AstraZeneca during the first quarter worth about $29,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Performance

Shares of AZN stock opened at $79.56 on Friday. The stock's 50-day moving average is $75.95 and its two-hundred day moving average is $72.95. The firm has a market cap of $246.74 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 1.49 and a beta of 0.37. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $82.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $14.08 billion. During the same quarter last year, the company posted $1.24 earnings per share. The business's revenue was up 16.1% on a year-over-year basis. Analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, AstraZeneca presently has an average rating of "Moderate Buy" and a consensus price target of $86.00.

AstraZeneca 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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