HBK Sorce Advisory LLC Acquires 330 Shares of AstraZeneca PLC (NASDAQ:AZN)

HBK Sorce Advisory LLC lifted its holdings in AstraZeneca PLC (NASDAQ:AZN) by 3.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,828 shares of the company’s stock after buying an additional 330 shares during the quarter. HBK Sorce Advisory LLC’s holdings in AstraZeneca were worth $688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new position in AstraZeneca in the 2nd quarter valued at $26,000. Able Wealth Management LLC acquired a new stake in AstraZeneca in the fourth quarter worth about $27,000. Pathway Financial Advisers LLC bought a new stake in AstraZeneca during the 1st quarter worth about $29,000. Pin Oak Investment Advisors Inc. lifted its position in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares during the period. Finally, RFP Financial Group LLC boosted its stake in shares of AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Trading Down 0.9 %

NASDAQ AZN opened at $78.27 on Friday. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. The firm has a market cap of $242.68 billion, a P/E ratio of 38.37, a P/E/G ratio of 1.49 and a beta of 0.47. The stock’s 50-day moving average is $81.71 and its 200-day moving average is $76.17.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were paid a $0.49 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio is 48.04%.

Analysts Set New Price Targets

AZN has been the topic of several analyst reports. Argus increased their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. TD Cowen raised their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, The Goldman Sachs Group started coverage on AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $89.75.

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.