Channing Global Advisors LLC Lowers Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Channing Global Advisors LLC lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,649 shares of the company’s stock after selling 847 shares during the period. Channing Global Advisors LLC’s holdings in AstraZeneca were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AZN. Sanders Capital LLC acquired a new stake in shares of AstraZeneca during the 3rd quarter worth about $715,198,000. Manning & Napier Group LLC increased its position in AstraZeneca by 281.2% during the fourth quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock worth $187,180,000 after buying an additional 2,050,064 shares during the period. Jennison Associates LLC increased its position in AstraZeneca by 5.2% during the third quarter. Jennison Associates LLC now owns 22,946,504 shares of the company’s stock worth $1,553,937,000 after buying an additional 1,139,295 shares during the period. abrdn plc increased its position in AstraZeneca by 346.3% during the fourth quarter. abrdn plc now owns 1,420,876 shares of the company’s stock worth $95,696,000 after buying an additional 1,102,490 shares during the period. Finally, Barclays PLC increased its position in AstraZeneca by 317.4% during the third quarter. Barclays PLC now owns 1,242,431 shares of the company’s stock worth $84,136,000 after buying an additional 944,765 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AZN shares. Morgan Stanley started coverage on AstraZeneca in a research note on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.00.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded up $0.06 during trading on Friday, reaching $75.09. The company’s stock had a trading volume of 2,961,002 shares, compared to its average volume of 6,218,413. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.57. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $75.81. The company has a market capitalization of $232.81 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50. The business has a 50 day moving average price of $67.05 and a 200-day moving average price of $66.02.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AstraZeneca PLC will post 4 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from AstraZeneca’s previous Semi-Annual dividend of $0.47. This represents a yield of 2.3%. AstraZeneca’s payout ratio is currently 100.52%.

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.