AstraZeneca PLC (NASDAQ:AZN) Stock Position Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 7.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 219,626 shares of the company’s stock after selling 18,602 shares during the period. PNC Financial Services Group Inc.’s holdings in AstraZeneca were worth $14,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB bought a new stake in shares of AstraZeneca during the 4th quarter worth about $754,000. Diversify Wealth Management LLC increased its stake in shares of AstraZeneca by 3.6% during the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after acquiring an additional 153 shares during the period. Ameritas Advisory Services LLC lifted its position in AstraZeneca by 25.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after purchasing an additional 1,949 shares during the period. Oak Ridge Investments LLC lifted its position in AstraZeneca by 5.4% in the fourth quarter. Oak Ridge Investments LLC now owns 143,973 shares of the company’s stock worth $9,433,000 after purchasing an additional 7,341 shares during the period. Finally, Asio Capital LLC boosted its stake in AstraZeneca by 11.6% during the 4th quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock valued at $3,508,000 after purchasing an additional 5,569 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Trading Down 1.9 %

Shares of NASDAQ AZN opened at $75.99 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The company has a market cap of $235.66 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.42 and a beta of 0.41. The business has a fifty day simple moving average of $71.04 and a 200-day simple moving average of $72.58.

AstraZeneca (NASDAQ:AZN) last posted 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%. Sell-side analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Investors 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 is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is currently 91.15%.

Wall Street Analyst Weigh In

AZN has been the subject of several research analyst reports. Morgan Stanley started coverage on AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $89.75.

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.