Cumberland Partners Ltd Acquires 120,733 Shares of AstraZeneca PLC (NASDAQ:AZN)

Cumberland Partners Ltd grew its position in AstraZeneca PLC (NASDAQ:AZN) by 2,618.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,344 shares of the company’s stock after purchasing an additional 120,733 shares during the quarter. Cumberland Partners Ltd’s holdings in AstraZeneca were worth $9,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of AstraZeneca in the fourth quarter valued at approximately $26,000. Confluence Investment Management LLC acquired a new stake in AstraZeneca during the first quarter worth approximately $27,000. Larson Financial Group LLC grew its position in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after buying an additional 289 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in AstraZeneca during the fourth quarter worth approximately $29,000. Finally, FNY Investment Advisers LLC acquired a new stake in AstraZeneca during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

AZN stock opened at $73.95 on Friday. The stock has a 50-day moving average price of $71.55 and a 200-day moving average price of $71.37. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The company has a current ratio of 0.86, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The firm has a market cap of $229.34 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.35 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, hitting the consensus estimate of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same period last year, the company posted $1.24 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be paid a $0.505 dividend. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s dividend payout ratio (DPR) is currently 77.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AZN shares. BNP Paribas started coverage on AstraZeneca in a research report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 price target on the stock. Berenberg Bank set a $97.00 target price on AstraZeneca in a research note on Wednesday, July 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, AstraZeneca has an average rating of “Moderate Buy” and a consensus target price of $89.00.

AstraZeneca Company 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.