Lake Street Advisors Group LLC Reduces Stake in AstraZeneca PLC (NASDAQ:AZN)

Lake Street Advisors Group LLC reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,484 shares of the company’s stock after selling 1,191 shares during the quarter. Lake Street Advisors Group LLC’s holdings in AstraZeneca were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AZN. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca in the 3rd quarter worth about $28,000. Albion Financial Group UT raised its position in AstraZeneca by 68.9% in the 4th 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. Groupama Asset Managment lifted its stake in AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after purchasing an additional 101,225 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in AstraZeneca in the third quarter worth about $45,000. Finally, Versant Capital Management Inc boosted its position in shares of AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after buying an additional 707 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.2 %

AZN opened at $75.65 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $69.53 and its two-hundred day moving average is $73.11. The company has a market capitalization of $234.60 billion, a P/E ratio of 33.47, a PEG ratio of 1.42 and a beta of 0.46. AstraZeneca PLC has a 52 week low of $62.75 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current 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 issued a $1.03 dividend. The ex-dividend date is Friday, February 21st. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is currently 91.15%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZN. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley assumed coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AstraZeneca presently 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.