Anchor Capital Advisors LLC Cuts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Anchor Capital Advisors LLC decreased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,790 shares of the company’s stock after selling 354 shares during the period. Anchor Capital Advisors LLC’s holdings in AstraZeneca were worth $13,242,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Assetmark Inc. boosted its stake in AstraZeneca by 11.2% in the 4th quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock worth $10,433,000 after purchasing an additional 15,642 shares during the period. Cox Capital Mgt LLC bought a new position in shares of AstraZeneca during the first quarter worth $2,683,000. TD Asset Management Inc grew its stake in AstraZeneca by 8.6% during the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock valued at $104,160,000 after acquiring an additional 121,876 shares in the last quarter. Northcape Wealth Management LLC bought a new stake in AstraZeneca in the 2nd quarter valued at $269,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in AstraZeneca by 9.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,136 shares of the company’s stock worth $416,000 after purchasing an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Up 0.1 %

Shares of AZN opened at $83.05 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.89 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 company has a market cap of $257.50 billion, a PE ratio of 40.71, a P/E/G ratio of 1.62 and a beta of 0.47. The business has a fifty day moving average of $81.43 and a 200 day moving average of $75.66.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

AZN has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price objective for the company. TD Cowen lifted their price objective on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Argus raised their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus price target of $89.75.

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.