Whittier Trust Co. Buys 6,929 Shares of AstraZeneca PLC $AZN

Key Points

• Whittier Trust Co. significantly increased its stake in AstraZeneca PLC by 20.9% during the second quarter, acquiring an additional 6,929 shares, bringing its total holdings to 40,073 shares valued at approximately $2.8 million.
• Several analysts have mixed opinions on AstraZeneca, with Berenberg Bank setting a price target of $97.00, while Deutsche Bank downgraded the stock to a "sell", resulting in an average rating of "Moderate Buy" among analysts.
• AstraZeneca's recent quarterly earnings met expectations, reporting $1.09 EPS and revenues of $14.46 billion, which reflects a year-over-year revenue increase of 16.1%.

Whittier Trust Co. grew its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,073 shares of the company's stock after acquiring an additional 6,929 shares during the period. Whittier Trust Co.'s holdings in AstraZeneca were worth $2,800,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of AstraZeneca by 297.9% in 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 in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of AstraZeneca by 59.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company's stock valued at $28,000 after acquiring an additional 149 shares in the last quarter. Costello Asset Management INC bought a new position in shares of AstraZeneca in the 1st quarter valued at about $29,000. Maseco LLP bought a new position in shares of AstraZeneca in the 2nd quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of AstraZeneca in the 1st quarter valued at about $37,000. Institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AZN shares. Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a "hold" rating to a "sell" rating in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Stock Up 0.3%

AstraZeneca stock opened at $83.43 on Thursday. The stock has a market cap of $258.75 billion, a P/E ratio of 31.36, a P/E/G ratio of 1.54 and a beta of 0.36. 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 twelve month low of $61.24 and a twelve month high of $86.57. The company's 50-day moving average price is $80.69 and its two-hundred day moving average price is $74.10.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The firm 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 revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. As a group, analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

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

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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