Pinnacle Wealth Planning Services Inc. Has $1.29 Million Stake in AstraZeneca PLC $AZN

Pinnacle Wealth Planning Services Inc. trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,421 shares of the company’s stock after selling 2,118 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in AstraZeneca were worth $1,287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SCS Capital Management LLC acquired a new stake in shares of AstraZeneca during the first quarter worth $3,066,000. Robbins Farley bought a new position in AstraZeneca during the 2nd quarter worth about $1,857,000. Oliver Luxxe Assets LLC raised its stake in shares of AstraZeneca by 6.0% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company’s stock valued at $5,472,000 after purchasing an additional 4,449 shares during the period. Jennison Associates LLC lifted its holdings in shares of AstraZeneca by 15.2% in the second quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after purchasing an additional 1,605,133 shares in the last quarter. Finally, Alhambra Investment Management LLC bought a new stake in shares of AstraZeneca in the second quarter valued at about $320,000. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research note on Thursday, October 16th. Jefferies Financial Group started coverage on shares of AstraZeneca in a research report on Monday, October 27th. They issued a “buy” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Trading Up 0.3%

Shares of AstraZeneca stock opened at $89.40 on Tuesday. The stock has a market cap of $277.27 billion, a P/E ratio of 33.61, a P/E/G ratio of 1.52 and a beta of 0.34. 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 $90.27. The business’s 50 day moving average is $82.29 and its 200-day moving average is $76.37.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $15.19 billion for the quarter, compared to the consensus estimate of $14.75 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.08 earnings per share. Equities research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

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.