Sit Investment Associates Inc. Acquires 71,563 Shares of AstraZeneca PLC (NASDAQ:AZN)

Sit Investment Associates Inc. lifted its holdings in AstraZeneca PLC (NASDAQ:AZN) by 42.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,413 shares of the company’s stock after acquiring an additional 71,563 shares during the period. Sit Investment Associates Inc.’s holdings in AstraZeneca were worth $17,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lindbrook Capital LLC raised its position in AstraZeneca by 1.9% during the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company’s stock valued at $557,000 after purchasing an additional 141 shares during the period. Principal Securities Inc. raised its holdings in shares of AstraZeneca by 0.5% in the first quarter. Principal Securities Inc. now owns 28,053 shares of the company’s stock worth $2,062,000 after buying an additional 142 shares during the period. Sage Mountain Advisors LLC raised its holdings in shares of AstraZeneca by 3.4% in the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company’s stock worth $329,000 after buying an additional 147 shares during the period. CoreCap Advisors LLC raised its holdings in shares of AstraZeneca by 31.8% in the fourth quarter. CoreCap Advisors LLC now owns 642 shares of the company’s stock worth $42,000 after buying an additional 155 shares during the period. Finally, Oakworth Capital Inc. raised its holdings in shares of AstraZeneca by 2.0% in the first quarter. Oakworth Capital Inc. now owns 8,575 shares of the company’s stock worth $630,000 after buying an additional 167 shares during the period. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Up 3.5%

Shares of NASDAQ AZN opened at $77.94 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The business’s 50 day moving average price is $72.07 and its 200-day moving average price is $71.77. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $87.68. The company has a market cap of $241.72 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.39 and a beta of 0.36.

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

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Shareholders of record on Friday, August 8th will be given a dividend of $0.505 per share. This represents a yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca’s dividend payout ratio (DPR) is 37.97%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.00.

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.