Brandywine Global Investment Management LLC Cuts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Brandywine Global Investment Management LLC reduced its position in AstraZeneca PLC (NASDAQ:AZN) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 424,282 shares of the company’s stock after selling 4,159 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in AstraZeneca were worth $31,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in AstraZeneca in the 4th quarter valued at $26,000. Confluence Investment Management LLC acquired a new stake in AstraZeneca in the 1st quarter valued at $27,000. Larson Financial Group LLC increased its holdings in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after purchasing an additional 289 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in AstraZeneca in the 4th quarter valued at $29,000. Finally, FNY Investment Advisers LLC acquired a new stake in AstraZeneca in the 1st quarter valued at $29,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Berenberg Bank set a $97.00 target price on AstraZeneca in a research note 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. Based on data from MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Stock Up 0.9%

Shares of AstraZeneca stock opened at $79.17 on Friday. The business has a 50-day moving average of $72.32 and a 200-day moving average of $71.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The company has a market capitalization of $245.53 billion, a PE ratio of 29.76, a P/E/G ratio of 1.44 and a beta of 0.36. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $14.46 billion during 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%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. As a group, equities analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm 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 dividend of $0.505 per share. The ex-dividend date is Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s dividend payout ratio (DPR) is currently 37.97%.

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.