Mackenzie Financial Corp Trims Position in AstraZeneca PLC (NASDAQ:AZN)

Mackenzie Financial Corp decreased its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,533 shares of the company's stock after selling 11,002 shares during the quarter. Mackenzie Financial Corp's holdings in AstraZeneca were worth $20,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Affirmative Financial Network boosted its holdings in shares of AstraZeneca by 2.9% in 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 during the last quarter. Clearstead Advisors LLC lifted its holdings in AstraZeneca by 15.5% during the third quarter. Clearstead Advisors LLC now owns 1,209 shares of the company's stock valued at $82,000 after purchasing an additional 162 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in AstraZeneca by 32.9% during the third quarter. Center for Financial Planning Inc. now owns 671 shares of the company's stock valued at $45,000 after purchasing an additional 166 shares in the last quarter. Gradient Investments LLC lifted its holdings in AstraZeneca by 2.4% during the third quarter. Gradient Investments LLC now owns 7,259 shares of the company's stock valued at $492,000 after purchasing an additional 169 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in AstraZeneca by 4.5% during 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. Hedge funds and other institutional investors own 20.35% of the company's stock.

AstraZeneca Price Performance

AZN traded up $0.19 during trading hours on Friday, hitting $68.55. The company's stock had a trading volume of 4,735,660 shares, compared to its average volume of 6,158,956. The business's 50-day moving average price is $66.12 and its 200-day moving average price is $65.87. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $76.56. The stock has a market cap of $212.53 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 1.25 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57.

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

AstraZeneca Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AZN. Jefferies Financial Group downgraded shares of AstraZeneca from a "buy" rating to a "hold" rating in a report on Wednesday, January 3rd. Morgan Stanley began coverage on shares of AstraZeneca in a report on Tuesday, January 23rd. They set an "overweight" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a "sell" rating to a "hold" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.00.

AstraZeneca Company 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.