ZWJ Investment Counsel Inc. Raises Stock Position in AstraZeneca PLC $AZN

Key Points

• ZWJ Investment Counsel Inc. increased its stake in AstraZeneca PLC by 1.9%, owning 763,470 shares valued at approximately $53.35 million as of the latest SEC filing.
• Several hedge funds have recently made significant investments in AstraZeneca, with Larson Financial Group increasing its stake by 297.9% during the first quarter.
• AstraZeneca's stock received a "buy (b)" rating from Weiss Ratings, with an average target price of $86.00 according to MarketBeat.com.

ZWJ Investment Counsel Inc. boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,470 shares of the company's stock after acquiring an additional 14,151 shares during the period. AstraZeneca accounts for about 2.0% of ZWJ Investment Counsel Inc.'s holdings, making the stock its 18th biggest position. ZWJ Investment Counsel Inc.'s holdings in AstraZeneca were worth $53,351,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in AstraZeneca by 297.9% during the first 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. FNY Investment Advisers LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in AstraZeneca during the first quarter valued at approximately $29,000. Highline Wealth Partners LLC grew its stake in AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company's stock valued at $31,000 after acquiring an additional 340 shares in the last quarter. Finally, Maseco LLP bought a new stake in AstraZeneca during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AZN. Weiss Ratings reiterated a "buy (b)" rating on shares of AstraZeneca in a research report on Saturday, September 27th. Berenberg Bank set a $97.00 target price on shares of AstraZeneca in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $86.00.

AstraZeneca Trading Up 2.0%

Shares of AstraZeneca stock opened at $85.31 on Friday. The firm has a market cap of $264.58 billion, a PE ratio of 32.07, a PEG ratio of 1.54 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 PLC has a 1 year low of $61.24 and a 1 year high of $85.50. The company has a 50 day simple moving average of $78.04 and a two-hundred day simple moving average of $73.10.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting analysts' consensus estimates of $1.09. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. Analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

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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