AstraZeneca PLC (NASDAQ:AZN) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 13.0% in the 1st quarter, Holdings Channel reports. The firm owned 248,180 shares of the company’s stock after buying an additional 28,554 shares during the period. PNC Financial Services Group Inc.’s holdings in AstraZeneca were worth $18,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AZN. Brighton Jones LLC lifted its stake in AstraZeneca by 93.2% during the fourth quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after purchasing an additional 2,789 shares during the last quarter. American Assets Inc. acquired a new stake in AstraZeneca during the fourth quarter valued at approximately $426,000. Norges Bank acquired a new position in AstraZeneca in the 4th quarter worth approximately $1,073,000. Geode Capital Management LLC grew its position in AstraZeneca by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 498,831 shares of the company’s stock worth $32,683,000 after purchasing an additional 5,384 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in AstraZeneca by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 30,759 shares of the company’s stock worth $2,015,000 after purchasing an additional 2,158 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Trading Up 0.9%

AstraZeneca stock opened at $74.59 on Tuesday. The company’s fifty day simple moving average is $71.63 and its 200-day simple moving average is $71.50. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The stock has a market cap of $231.33 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.36 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.08 billion. During the same period in the previous year, the company posted $1.24 EPS. AstraZeneca’s revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Friday, August 8th will be paid a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca’s payout ratio is presently 77.44%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AZN. BNP Paribas began coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 price objective on the stock. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.