Marotta Asset Management Lowers Stake in AstraZeneca PLC (NASDAQ:AZN)

Marotta Asset Management lowered its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 12,998 shares of the company’s stock after selling 187 shares during the period. Marotta Asset Management’s holdings in AstraZeneca were worth $1,013,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AZN. Bruce G. Allen Investments LLC grew its stake in shares of AstraZeneca by 19.1% in the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after buying an additional 138 shares in the last quarter. Carnegie Investment Counsel raised its position in shares of AstraZeneca by 0.8% in the 2nd quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after purchasing an additional 138 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 146 shares during the last quarter. Sunpointe LLC grew its position in shares of AstraZeneca by 4.5% during the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after buying an additional 147 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. increased its stake in shares of AstraZeneca by 4.0% in the second quarter. Argonautica Private Wealth Management Inc. now owns 3,874 shares of the company’s stock worth $302,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. TD Cowen lifted their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Barclays raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $77.93 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The firm’s 50 day moving average is $81.63 and its two-hundred day moving average is $77.28. The firm has a market capitalization of $241.63 billion, a P/E ratio of 38.20, a PEG ratio of 1.50 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Analysts anticipate that AstraZeneca PLC will post 4.07 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

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.