AstraZeneca PLC (NASDAQ:AZN) Shares Purchased by Drive Wealth Management LLC

Drive Wealth Management LLC raised its holdings in AstraZeneca PLC (NASDAQ:AZN) by 10.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,232 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Drive Wealth Management LLC’s holdings in AstraZeneca were worth $330,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AZN. Massachusetts Wealth Management purchased a new stake in shares of AstraZeneca during the 2nd quarter worth approximately $226,000. Retireful LLC acquired a new position in AstraZeneca during the second quarter worth $2,019,000. Ritholtz Wealth Management boosted its position in AstraZeneca by 12.7% during the second quarter. Ritholtz Wealth Management now owns 66,235 shares of the company’s stock worth $5,166,000 after purchasing an additional 7,478 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in AstraZeneca in the second quarter valued at $275,000. Finally, Summit Financial LLC purchased a new position in shares of AstraZeneca in the second quarter valued at $438,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.4 %

Shares of AstraZeneca stock opened at $87.62 on Monday. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The business’s fifty day moving average is $80.81 and its two-hundred day moving average is $75.00. 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 $271.67 billion, a PE ratio of 42.95, a P/E/G ratio of 1.65 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that AstraZeneca PLC will post 4.06 earnings per share for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio (DPR) is presently 48.04%.

Wall Street Analysts Forecast Growth

AZN has been the topic of several recent research reports. TD Cowen boosted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group began coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price objective for the company. Barclays raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Argus boosted their price target on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca presently has an average 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.