AstraZeneca PLC (NASDAQ:AZN) Holdings Lifted by Edge Capital Group LLC

Edge Capital Group LLC increased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,301 shares of the company’s stock after acquiring an additional 3,665 shares during the period. Edge Capital Group LLC’s holdings in AstraZeneca were worth $11,254,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in AstraZeneca by 19.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 147,251 shares of the company’s stock worth $9,917,000 after purchasing an additional 24,233 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in AstraZeneca in the fourth quarter worth approximately $356,000. D.A. Davidson & CO. raised its position in AstraZeneca by 24.9% during the fourth quarter. D.A. Davidson & CO. now owns 31,512 shares of the company’s stock valued at $2,122,000 after acquiring an additional 6,279 shares in the last quarter. US Bancorp DE lifted its stake in AstraZeneca by 20.1% in the fourth quarter. US Bancorp DE now owns 186,629 shares of the company’s stock valued at $12,570,000 after acquiring an additional 31,252 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in shares of AstraZeneca during the 4th quarter worth $436,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Down 0.7 %

Shares of AZN opened at $78.38 on Friday. The stock’s 50-day moving average price is $81.80 and its 200 day moving average price is $76.57. 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 capitalization of $243.02 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 1.49 and a beta of 0.47. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, July 25th. The company reported $0.99 EPS 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 during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the business earned $1.08 earnings per share. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts predict that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio (DPR) is currently 48.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AZN shares. Argus lifted their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. The Goldman Sachs Group assumed coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 price target for the company. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note 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 issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “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.