Chung Wu Investment Group LLC Invests $482,000 in AstraZeneca PLC (NASDAQ:AZN)

Chung Wu Investment Group LLC bought a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,350 shares of the company’s stock, valued at approximately $482,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in AstraZeneca in the third quarter worth about $28,000. Ashton Thomas Securities LLC bought a new stake in shares of AstraZeneca in the 3rd quarter worth approximately $45,000. Albion Financial Group UT grew its stake in shares of AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after buying an additional 248 shares during the last quarter. Hollencrest Capital Management raised its stake in AstraZeneca by 38.4% during the third quarter. Hollencrest Capital Management now owns 692 shares of the company’s stock valued at $54,000 after buying an additional 192 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after acquiring an additional 707 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Up 0.9 %

Shares of NASDAQ:AZN opened at $77.96 on Thursday. The company has a 50-day moving average price of $70.39 and a 200 day moving average price of $72.84. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The company has a market cap of $241.77 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, equities research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a dividend of $1.03 per share. This represents a yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. AstraZeneca’s dividend payout ratio is presently 91.15%.

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.