AlTi Global Inc. Invests $206,000 in AstraZeneca PLC (NASDAQ:AZN)

AlTi Global Inc. bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,133 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT boosted its position in AstraZeneca by 68.9% during 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. Versant Capital Management Inc lifted 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 purchasing an additional 707 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of AstraZeneca in the fourth quarter valued at $55,000. Golden State Wealth Management LLC acquired a new stake in AstraZeneca during the 4th quarter valued at $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in AstraZeneca during the 4th quarter worth $55,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They issued an “outperform” rating and a $75.00 price objective for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating for the company. One equities 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $88.00.

AstraZeneca Stock Performance

Shares of AZN opened at $72.44 on Monday. The firm has a fifty day moving average of $72.00 and a 200-day moving average of $69.92. The company has a market cap of $224.65 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $87.68.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Tuesday, April 29th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $13.59 billion during the quarter, compared to analyst estimates of $13.71 billion. AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. AstraZeneca’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 EPS. As a group, equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $1.03 dividend. This represents a yield of 2%. The ex-dividend date was Friday, February 21st. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio is currently 82.73%.

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.