Franklin Resources Inc. Has $1.49 Billion Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Franklin Resources Inc. lifted its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,122,675 shares of the company’s stock after purchasing an additional 1,522,715 shares during the quarter. Franklin Resources Inc.’s holdings in AstraZeneca were worth $1,492,649,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Peapack Gladstone Financial Corp grew its stake in AstraZeneca by 18.3% during the third quarter. Peapack Gladstone Financial Corp now owns 149,605 shares of the company’s stock worth $11,655,000 after buying an additional 23,159 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of AstraZeneca by 5.8% during the 3rd quarter. Tidal Investments LLC now owns 6,649 shares of the company’s stock worth $518,000 after acquiring an additional 362 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of AstraZeneca during the 3rd quarter worth approximately $5,582,000. World Investment Advisors LLC increased its stake in AstraZeneca by 115.5% in the third quarter. World Investment Advisors LLC now owns 8,267 shares of the company’s stock valued at $644,000 after acquiring an additional 4,430 shares during the last quarter. Finally, Anchor Investment Management LLC raised its position in AstraZeneca by 231.3% during the third quarter. Anchor Investment Management LLC now owns 1,279 shares of the company’s stock valued at $100,000 after purchasing an additional 893 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AZN. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, UBS Group raised shares of AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Price Performance

AstraZeneca stock opened at $66.94 on Friday. The stock has a 50-day moving average price of $70.39 and a two-hundred day moving average price of $76.80. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The company has a market capitalization of $207.55 billion, a PE ratio of 32.03, a P/E/G ratio of 1.20 and a beta of 0.45. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The company had revenue of $13.57 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Analysts expect that AstraZeneca PLC will post 4.11 EPS for the current year.

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.