AstraZeneca PLC $AZN Holdings Lowered by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 5,580 shares of the company’s stock after selling 174 shares during the period. Spinnaker Investment Group LLC’s holdings in AstraZeneca were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of 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 acquiring an additional 2,789 shares during the period. Tidal Investments LLC grew its position in AstraZeneca by 9.6% during the 4th quarter. Tidal Investments LLC now owns 7,284 shares of the company’s stock worth $477,000 after purchasing an additional 635 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in AstraZeneca during the 4th quarter valued at $12,026,000. Toronto Dominion Bank lifted its holdings in shares of AstraZeneca by 51.0% in the fourth quarter. Toronto Dominion Bank now owns 27,080 shares of the company’s stock valued at $1,774,000 after purchasing an additional 9,151 shares in the last quarter. Finally, Siemens Fonds Invest GmbH boosted its position in shares of AstraZeneca by 10.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the company’s stock worth $713,000 after buying an additional 1,040 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

AstraZeneca Trading Down 2.4%

Shares of NASDAQ:AZN opened at $73.53 on Friday. The firm has a fifty day moving average of $77.03 and a two-hundred day moving average of $72.96. 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 $82.41. The firm has a market capitalization of $228.05 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.39 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. On average, equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were issued a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date was Friday, August 8th. AstraZeneca’s payout ratio 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.