Capital Research Global Investors Sells 346,008 Shares of AstraZeneca PLC (NASDAQ:AZN)

Capital Research Global Investors lessened its holdings in AstraZeneca PLC (NASDAQ:AZN) by 19.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,390,657 shares of the company’s stock after selling 346,008 shares during the period. Capital Research Global Investors’ holdings in AstraZeneca were worth $94,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Capital International Sarl boosted its stake in shares of AstraZeneca by 4.5% in the 1st quarter. Capital International Sarl now owns 38,289 shares of the company’s stock worth $2,594,000 after buying an additional 1,663 shares during the last quarter. Toronto Dominion Bank lifted its stake in AstraZeneca by 15.2% in the first quarter. Toronto Dominion Bank now owns 18,493 shares of the company’s stock valued at $1,253,000 after purchasing an additional 2,447 shares during the last quarter. Capital International Ltd. CA lifted its stake in AstraZeneca by 1.8% in the first quarter. Capital International Ltd. CA now owns 43,620 shares of the company’s stock valued at $2,955,000 after purchasing an additional 759 shares during the last quarter. Capital International Inc. CA grew its holdings in AstraZeneca by 17.5% during the first quarter. Capital International Inc. CA now owns 238,030 shares of the company’s stock valued at $16,127,000 after purchasing an additional 35,458 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in AstraZeneca by 6.8% during the first quarter. Advisors Asset Management Inc. now owns 60,455 shares of the company’s stock valued at $4,096,000 after purchasing an additional 3,831 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

NASDAQ AZN traded down $0.39 during trading hours on Friday, reaching $78.13. 5,878,523 shares of the stock traded hands, compared to its average volume of 3,316,286. The stock has a 50 day simple moving average of $78.54 and a two-hundred day simple moving average of $71.92. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $80.86. The company has a market cap of $242.25 billion, a price-to-earnings ratio of 38.30, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.66% and a net margin of 13.11%. The firm had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, analysts predict that AstraZeneca PLC will post 4.03 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s payout ratio is presently 94.61%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AZN shares. BMO Capital Markets increased their price objective on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Argus raised 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. Finally, The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $88.00.

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.