Golden State Wealth Management LLC Invests $55,000 in AstraZeneca PLC (NASDAQ:AZN)

Golden State Wealth Management LLC purchased a new stake in AstraZeneca PLC (NASDAQ:AZN) during the fourth quarter, HoldingsChannel reports. The firm purchased 835 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds have also added to or reduced their stakes in AZN. McClarren Financial Advisors Inc. raised its position in shares of AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after purchasing an additional 247 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca during the third quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of AstraZeneca in the third quarter valued at approximately $45,000. Albion Financial Group UT increased its stake in shares of AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the period. Finally, Hollencrest Capital Management grew its holdings in AstraZeneca by 38.4% in the 3rd quarter. Hollencrest Capital Management now owns 692 shares of the company’s stock valued at $54,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Up 0.9 %

AZN stock opened at $72.66 on Tuesday. The company has a market cap of $225.33 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The business has a 50-day simple moving average of $67.46 and a 200 day simple moving average of $73.56.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. Sell-side analysts anticipate that AstraZeneca PLC will post 4.66 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a $1.03 dividend. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is presently 43.36%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AZN. UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AstraZeneca currently has an average rating of “Buy” and an average target price of $89.75.

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.