Independent Advisor Alliance Purchases 442 Shares of AstraZeneca PLC (NASDAQ:AZN)

Independent Advisor Alliance increased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,847 shares of the company’s stock after acquiring an additional 442 shares during the quarter. Independent Advisor Alliance’s holdings in AstraZeneca were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Albion Financial Group UT lifted its position in shares of AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the period. Versant Capital Management Inc lifted its holdings in AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after buying an additional 707 shares during the period. Golden State Wealth Management LLC bought a new stake in AstraZeneca during the 4th quarter valued at $55,000. Crews Bank & Trust purchased a new position in shares of AstraZeneca in the 4th quarter valued at $55,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of AstraZeneca in the 4th quarter worth $55,000. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $76.32 on Thursday. The company has a 50 day moving average price of $72.47 and a 200 day moving average price of $72.16. The firm has a market capitalization of $236.68 billion, a P/E ratio of 33.77, a PEG ratio of 1.42 and a beta of 0.41. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 52 week low of $62.75 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Sell-side analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be issued a $1.03 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio is currently 91.15%.

Analyst Upgrades and Downgrades

AZN has been the topic of several analyst reports. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AstraZeneca presently has an average rating of “Buy” and an average 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.