AstraZeneca PLC (NASDAQ:AZN) Stake Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 18.5% in the 4th quarter, Holdings Channel reports. The firm owned 37,190 shares of the company’s stock after acquiring an additional 5,797 shares during the quarter. NewEdge Wealth LLC’s holdings in AstraZeneca were worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of AstraZeneca during the third quarter worth approximately $28,000. Albion Financial Group UT boosted its position 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 buying an additional 248 shares during the period. Groupama Asset Managment boosted its position in shares of AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after buying an additional 101,225 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of AstraZeneca during the third quarter worth approximately $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 worth $48,000 after buying an additional 707 shares during the period. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AZN shares. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. Finally, UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

AZN opened at $76.21 on Friday. The company has a market capitalization of $236.34 billion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. AstraZeneca PLC has a 1-year low of $62.75 and a 1-year high of $87.68. The business has a 50 day moving average price of $69.75 and a two-hundred day moving average price of $73.07.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a dividend of $1.03 per share. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio is 91.15%.

AstraZeneca 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.