MONECO Advisors LLC Makes New $202,000 Investment in AstraZeneca PLC (NASDAQ:AZN)

MONECO Advisors LLC bought a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,592 shares of the company’s stock, valued at approximately $202,000.

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

AstraZeneca Stock Performance

AstraZeneca stock opened at $84.78 on Tuesday. 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 company has a market capitalization of $262.86 billion, a PE ratio of 41.56, a P/E/G ratio of 1.36 and a beta of 0.45. The firm has a fifty day simple moving average of $79.47 and a two-hundred day simple moving average of $73.56. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $85.30.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $12.62 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Research analysts expect that AstraZeneca PLC will post 4.74 EPS for the current year.

AstraZeneca Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZN. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group began coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target for the company. Argus boosted their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Finally, TD Cowen boosted their price target on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.