AstraZeneca PLC (NASDAQ:AZN) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in AstraZeneca PLC (NASDAQ:AZN) by 23.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,252 shares of the company’s stock after selling 17,390 shares during the quarter. William Blair Investment Management LLC’s holdings in AstraZeneca were worth $4,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lindbrook Capital LLC grew its position in AstraZeneca by 1.7% during the first quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock valued at $542,000 after buying an additional 137 shares during the period. Bruce G. Allen Investments LLC grew its position in AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after buying an additional 138 shares during the period. Carnegie Investment Counsel grew its position in AstraZeneca by 0.8% during the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after buying an additional 138 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Finally, Sunpointe LLC grew its position in shares of AstraZeneca by 4.5% in the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock valued at $267,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $79.04 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $81.75 and its 200-day moving average price is $76.35. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a market cap of $245.07 billion, a P/E ratio of 38.75, a P/E/G ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last issued its 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 company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same period in the previous year, the firm earned $1.08 earnings per share. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were paid a dividend of $0.49 per share. This represents a yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is presently 48.04%.

Wall Street Analyst Weigh In

AZN has been the topic of several research analyst reports. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Argus raised their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca 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.