Jennison Associates LLC Cuts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Jennison Associates LLC trimmed its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 22.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,732,542 shares of the company's stock after selling 5,213,962 shares during the quarter. Jennison Associates LLC owned about 0.57% of AstraZeneca worth $1,194,287,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Anchor Investment Management LLC acquired a new stake in shares of AstraZeneca in the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca during the fourth quarter worth $27,000. Nemes Rush Group LLC boosted its stake in AstraZeneca by 375.6% during the third quarter. Nemes Rush Group LLC now owns 428 shares of the company's stock worth $29,000 after buying an additional 338 shares during the last quarter. LWM Advisory Services LLC acquired a new position in AstraZeneca during the third quarter worth $35,000. Finally, Arlington Trust Co LLC acquired a new position in AstraZeneca during the fourth quarter worth $37,000. 20.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AZN shares. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a "sell" rating to a "hold" rating in a research report on Tuesday, April 16th. Morgan Stanley assumed coverage on AstraZeneca in a research report on Tuesday, January 23rd. They issued an "overweight" rating on the stock. Finally, Jefferies Financial Group downgraded AstraZeneca from a "buy" rating to a "hold" rating in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $80.00.

AstraZeneca Stock Up 2.3 %

NASDAQ AZN traded up $1.58 during trading hours on Monday, hitting $70.13. 5,183,210 shares of the company were exchanged, compared to its average volume of 6,140,949. The company has a 50 day moving average of $66.42 and a two-hundred day moving average of $65.89. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $76.56. The firm has a market cap of $217.43 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 1.26 and a beta of 0.50.

AstraZeneca (NASDAQ:AZN - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $12.02 billion for the quarter, compared to analysts' expectations of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. AstraZeneca's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Equities research analysts anticipate that AstraZeneca PLC will post 4 earnings per share for the current year.

AstraZeneca Increases Dividend

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