AstraZeneca PLC $AZN Stake Lessened by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC lowered its holdings in AstraZeneca PLC (NASDAQ:AZN) by 3.6% in the second quarter, Holdings Channel.com reports. The firm owned 4,694 shares of the company’s stock after selling 174 shares during the period. Opal Wealth Advisors LLC’s holdings in AstraZeneca were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Confluence Investment Management LLC acquired a new position in shares of AstraZeneca in the first quarter worth $27,000. Larson Financial Group LLC increased its stake in shares of AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after acquiring an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of AstraZeneca in the fourth quarter worth $29,000. FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca in the first quarter worth $29,000. Finally, Costello Asset Management INC acquired a new position in shares of AstraZeneca in the first quarter worth $29,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Up 1.6%

NASDAQ AZN opened at $77.50 on Tuesday. 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 firm has a 50-day simple moving average of $76.73 and a 200 day simple moving average of $72.94. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. The stock has a market cap of $240.36 billion, a PE ratio of 29.14, a PEG ratio of 1.40 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN) last released 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. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.08 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. On average, research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a $0.505 dividend. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca’s dividend payout ratio (DPR) is presently 37.97%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research note on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.