Simplicity Wealth LLC Sells 63,412 Shares of AstraZeneca PLC (NASDAQ:AZN)

Simplicity Wealth LLC reduced its position in AstraZeneca PLC (NASDAQ:AZN) by 91.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,189 shares of the company’s stock after selling 63,412 shares during the quarter. Simplicity Wealth LLC’s holdings in AstraZeneca were worth $482,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. bought a new position in AstraZeneca in the second quarter worth $26,000. Able Wealth Management LLC bought a new position in AstraZeneca in the fourth quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in AstraZeneca in the first quarter worth $29,000. Hobbs Group Advisors LLC bought a new position in AstraZeneca in the second quarter worth $35,000. Finally, Versant Capital Management Inc raised its stake in AstraZeneca by 1,614.8% during the second quarter. Versant Capital Management Inc now owns 463 shares of the company’s stock worth $36,000 after acquiring an additional 436 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

AstraZeneca Price Performance

Shares of AZN stock opened at $77.35 on Monday. The stock has a 50-day moving average price of $81.36 and a 200 day moving average price of $77.90. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The firm has a market cap of $239.82 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 1.42 and a beta of 0.46. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced 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. The firm had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Research analysts expect that AstraZeneca PLC will post 4.07 EPS for the current 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 given a $0.49 dividend. 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

Several research analysts have issued reports on the company. TD Cowen increased their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

AstraZeneca 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.