International Assets Investment Management LLC Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

International Assets Investment Management LLC purchased a new position in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 154,340 shares of the company's stock, valued at approximately $10,395,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Affirmative Financial Network increased its holdings in shares of AstraZeneca by 2.9% during the third quarter. First Affirmative Financial Network now owns 5,495 shares of the company's stock worth $372,000 after buying an additional 155 shares in the last quarter. Clearstead Advisors LLC increased its holdings in shares of AstraZeneca by 15.5% during the third quarter. Clearstead Advisors LLC now owns 1,209 shares of the company's stock worth $82,000 after buying an additional 162 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in shares of AstraZeneca by 32.9% during the third quarter. Center for Financial Planning Inc. now owns 671 shares of the company's stock worth $45,000 after buying an additional 166 shares in the last quarter. Gradient Investments LLC increased its holdings in shares of AstraZeneca by 2.4% during the third quarter. Gradient Investments LLC now owns 7,259 shares of the company's stock worth $492,000 after buying an additional 169 shares in the last quarter. Finally, Drive Wealth Management LLC increased its holdings in shares of AstraZeneca by 4.5% in the fourth quarter. Drive Wealth Management LLC now owns 3,911 shares of the company's stock valued at $263,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZN. Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They issued an "overweight" rating for the company. Jefferies Financial Group cut shares of AstraZeneca from a "buy" rating to a "hold" rating in a research note on Wednesday, January 3rd. HSBC assumed coverage on shares of AstraZeneca in a research note on Monday, December 18th. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a "hold" rating to a "sell" rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $80.00.

AstraZeneca Stock Down 0.7 %

AZN stock traded down $0.52 during midday trading on Friday, hitting $68.93. The company's stock had a trading volume of 9,121,475 shares, compared to its average volume of 4,571,533. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.82 and a quick ratio of 0.64. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $76.56. The company's fifty day moving average price is $65.89 and its 200 day moving average price is $65.82. The stock has a market capitalization of $213.71 billion, a P/E ratio of 35.90, a PEG ratio of 1.26 and a beta of 0.50.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. As a group, equities research analysts predict that AstraZeneca PLC will post 4.02 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. This is an increase from AstraZeneca's previous Semi-Annual dividend of $0.47. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a dividend yield of 2.3%. AstraZeneca's payout ratio is presently 100.52%.

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.