Magnolia Capital Advisors LLC Invests $204,000 in AstraZeneca PLC (NASDAQ:AZN)

Magnolia Capital Advisors LLC acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the 2nd quarter, Holdings Channel reports. The fund acquired 2,614 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also modified their holdings of AZN. GHP Investment Advisors Inc. acquired a new position in shares of AstraZeneca in the 2nd quarter valued at $26,000. Able Wealth Management LLC acquired a new position in shares of AstraZeneca in the 4th quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in shares of AstraZeneca in the 1st quarter valued at $29,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of AstraZeneca by 468.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares during the period. Finally, RFP Financial Group LLC increased its holdings 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 acquiring an additional 178 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $77.91 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The stock has a market cap of $241.57 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.47. The firm’s fifty day simple moving average is $81.66 and its 200-day simple moving average is $77.18.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping 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 business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

AZN has been the topic of a number of recent research reports. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. TD Cowen boosted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $89.75.

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.