Morton Community Bank Boosts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Morton Community Bank increased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 20.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,115 shares of the company’s stock after purchasing an additional 6,570 shares during the period. Morton Community Bank’s holdings in AstraZeneca were worth $3,051,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Able Wealth Management LLC purchased a new stake in AstraZeneca during the 4th quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in shares of AstraZeneca in the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. increased its holdings in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares during the period. RFP Financial Group LLC raised its position in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of AstraZeneca in the 4th quarter worth approximately $34,000. Institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AZN. TD Cowen upped their target price on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Argus upped their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price for the company. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Performance

AZN traded up $0.05 during midday trading on Friday, hitting $83.05. 5,516,402 shares of the company traded hands, compared to its average volume of 5,261,154. The company’s 50-day moving average is $81.43 and its 200 day moving average is $75.66. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $257.50 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating 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 company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts expect that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be issued a $0.49 dividend. This represents a dividend yield of 1.8%. The ex-dividend date is Friday, August 9th. AstraZeneca’s payout ratio is currently 48.04%.

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.