Itau Unibanco Holding S.A. Lowers Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Itau Unibanco Holding S.A. lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 62.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,457 shares of the company’s stock after selling 12,218 shares during the period. Itau Unibanco Holding S.A.’s holdings in AstraZeneca were worth $582,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GHP Investment Advisors Inc. purchased a new position in AstraZeneca during the 2nd quarter worth $26,000. Able Wealth Management LLC purchased a new position in AstraZeneca during the fourth quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca in the first quarter valued at about $29,000. Hobbs Group Advisors LLC purchased a new stake in AstraZeneca in the 2nd quarter valued at approximately $35,000. Finally, Pin Oak Investment Advisors Inc. increased 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 worth $30,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $78.38 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The business’s fifty day moving average price is $81.80 and its two-hundred day moving average price is $76.57. The stock has a market cap of $243.02 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The firm had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter last year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that AstraZeneca PLC will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on AZN. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. The Goldman Sachs Group started coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price on the stock. Argus increased their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Finally, Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average 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.