Financial Perspectives Inc Boosts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Financial Perspectives Inc increased its stake in AstraZeneca PLC (NASDAQ:AZN) by 23.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,784 shares of the company’s stock after buying an additional 340 shares during the period. Financial Perspectives Inc’s holdings in AstraZeneca were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of AstraZeneca during the 4th quarter valued at $196,000. Community Bank & Trust Waco Texas lifted its holdings in shares of AstraZeneca by 12.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 5,424 shares of the company’s stock valued at $365,000 after buying an additional 581 shares during the period. Marks Group Wealth Management Inc lifted its holdings in shares of AstraZeneca by 433.2% during the 4th quarter. Marks Group Wealth Management Inc now owns 45,281 shares of the company’s stock valued at $3,050,000 after buying an additional 36,789 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of AstraZeneca by 23.4% during the 4th quarter. New York State Common Retirement Fund now owns 196,563 shares of the company’s stock valued at $13,239,000 after buying an additional 37,214 shares during the period. Finally, RWA Wealth Partners LLC bought a new position in shares of AstraZeneca during the 4th quarter valued at $221,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

AstraZeneca stock traded up $0.72 during trading on Tuesday, reaching $70.85. The company had a trading volume of 5,554,248 shares, compared to its average volume of 6,139,129. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $76.56. The firm’s 50-day simple moving average is $66.42 and its 200 day simple moving average is $65.89. The firm has a market capitalization of $219.67 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 1.26 and a beta of 0.50. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a return on equity of 30.19% and a net margin of 13.00%. AstraZeneca’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. Sell-side analysts forecast that AstraZeneca PLC will post 4 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, February 23rd were issued a $0.965 dividend. This is an increase from AstraZeneca’s previous Semi-Annual dividend of $0.47. This represents a yield of 2.3%. The ex-dividend date of this dividend was Thursday, February 22nd. AstraZeneca’s payout ratio is currently 100.52%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AZN. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley started coverage on AstraZeneca in a report on Tuesday, January 23rd. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group cut AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.00.

About AstraZeneca

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.