Claro Advisors LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Claro Advisors LLC bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the third quarter, according to its most recent filing with the SEC. The fund bought 6,374 shares of the company’s stock, valued at approximately $497,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. grew its position in shares of AstraZeneca by 2.0% during the 4th quarter. American International Group Inc. now owns 40,464 shares of the company’s stock valued at $2,725,000 after acquiring an additional 775 shares during the period. Cooper Financial Group raised its stake in shares of AstraZeneca by 15.0% in the first quarter. Cooper Financial Group now owns 7,367 shares of the company’s stock valued at $499,000 after buying an additional 963 shares during the period. Ballentine Partners LLC lifted its position in shares of AstraZeneca by 32.5% during the 1st quarter. Ballentine Partners LLC now owns 23,615 shares of the company’s stock valued at $1,600,000 after buying an additional 5,795 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of AstraZeneca by 10.7% during the 1st quarter. AdvisorNet Financial Inc now owns 21,973 shares of the company’s stock worth $1,489,000 after acquiring an additional 2,120 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in AstraZeneca in the 1st quarter worth about $2,734,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.3 %

Shares of AZN stock opened at $78.26 on Friday. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The business’s fifty day moving average is $81.13 and its 200 day moving average is $78.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The company has a market capitalization of $242.65 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.07 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were issued a $0.49 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s payout ratio is 48.04%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AZN shares. Erste Group Bank upgraded shares of AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. TD Cowen increased their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AstraZeneca has an average rating of “Moderate Buy” and a consensus target price 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.