Canandaigua National Bank & Trust Co. Has $1.16 Million Position in AstraZeneca PLC (NASDAQ:AZN)

Canandaigua National Bank & Trust Co. reduced its stake in AstraZeneca PLC (NASDAQ:AZN) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,913 shares of the company’s stock after selling 827 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in AstraZeneca were worth $1,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AZN. Cox Capital Mgt LLC acquired a new stake in AstraZeneca during the first quarter worth about $2,683,000. TD Asset Management Inc grew its stake in AstraZeneca by 8.6% during the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock worth $104,160,000 after buying an additional 121,876 shares in the last quarter. Northcape Wealth Management LLC acquired a new stake in AstraZeneca during the second quarter worth about $269,000. Wealthcare Advisory Partners LLC grew its stake in AstraZeneca by 9.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,136 shares of the company’s stock worth $416,000 after buying an additional 543 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in AstraZeneca by 124.5% during the first quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock worth $6,657,000 after buying an additional 54,488 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Down 0.6 %

NASDAQ AZN traded down $0.46 during trading hours on Friday, reaching $77.47. The company’s stock had a trading volume of 5,186,806 shares, compared to its average volume of 5,192,397. The firm has a fifty day simple moving average of $81.63 and a 200-day simple moving average of $77.28. The stock has a market cap of $240.20 billion, a P/E ratio of 37.98, a P/E/G ratio of 1.50 and a beta of 0.46. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week 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.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that AstraZeneca PLC will post 4.07 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 issued a dividend of $0.49 per share. The ex-dividend date was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s payout ratio is 48.04%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca 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.