AstraZeneca PLC (NASDAQ:AZN) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its stake in AstraZeneca PLC (NASDAQ:AZN) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,062 shares of the company’s stock after acquiring an additional 216 shares during the period. Brown Brothers Harriman & Co.’s holdings in AstraZeneca were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its holdings in AstraZeneca by 1.7% in the first quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock valued at $542,000 after acquiring an additional 137 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in AstraZeneca by 19.1% in the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after acquiring an additional 138 shares in the last quarter. Carnegie Investment Counsel raised its holdings in AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after acquiring an additional 138 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of AstraZeneca by 40.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after purchasing an additional 146 shares during the period. Finally, Sunpointe LLC raised its holdings in shares of AstraZeneca by 4.5% during the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after purchasing an additional 147 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

Shares of AZN opened at $78.53 on Wednesday. The firm has a 50-day moving average price of $81.78 and a 200 day moving average price of $76.45. The firm has a market capitalization of $243.49 billion, a PE ratio of 38.50, a P/E/G ratio of 1.49 and a beta of 0.47. 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.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share 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 company had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analysts Set New Price Targets

AZN has been the topic of a number of research reports. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Argus increased their target price 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 initiated coverage on shares of AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 target price on the stock. TD Cowen increased their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Barclays raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Company 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.