McKinley Carter Wealth Services Inc. Trims Stock Position in AstraZeneca PLC $AZN

McKinley Carter Wealth Services Inc. cut its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,911 shares of the company’s stock after selling 321 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in AstraZeneca were worth $343,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC increased its holdings in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 289 shares during the period. FNY Investment Advisers LLC purchased a new position in AstraZeneca during the first quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in AstraZeneca during the first quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its holdings in AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock valued at $31,000 after buying an additional 340 shares during the period. Finally, Maseco LLP purchased a new position in AstraZeneca during the second quarter valued at approximately $34,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

Shares of AZN opened at $84.53 on Friday. The company has a market cap of $262.16 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.36. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $86.57. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $79.18 and a two-hundred day moving average of $73.45.

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 net margin of 14.68% and a return on equity of 32.84%. AstraZeneca’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. As a group, analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid 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 presently 37.97%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

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.