Golden State Equity Partners Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

Golden State Equity Partners bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the third quarter, HoldingsChannel reports. The fund bought 3,506 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversified Trust Co raised its stake in shares of AstraZeneca by 5.8% during the first quarter. Diversified Trust Co now owns 4,343 shares of the company’s stock worth $294,000 after purchasing an additional 238 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in AstraZeneca by 172.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,496 shares of the company’s stock worth $711,000 after buying an additional 6,650 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of AstraZeneca by 20.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 78,873 shares of the company’s stock valued at $5,344,000 after acquiring an additional 13,373 shares in the last quarter. Norden Group LLC acquired a new position in shares of AstraZeneca during the first quarter worth about $3,055,000. Finally, Kovack Advisors Inc. purchased a new position in AstraZeneca during the first quarter worth about $202,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 2.3 %

Shares of AZN opened at $71.15 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. The stock has a market cap of $220.61 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 1.39 and a beta of 0.46. The firm has a 50 day simple moving average of $79.48 and a 200-day simple moving average of $78.58.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AZN shares. TD Cowen increased their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.