Raymond James Financial Inc. Makes New $158.02 Million Investment in AstraZeneca PLC (NASDAQ:AZN)

Raymond James Financial Inc. acquired a new position in AstraZeneca PLC (NASDAQ:AZN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,411,756 shares of the company’s stock, valued at approximately $158,018,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Crumly & Associates Inc. boosted its position in AstraZeneca by 2.2% in the third quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock worth $518,000 after purchasing an additional 143 shares during the last quarter. Diversify Wealth Management LLC lifted its position in shares of AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after buying an additional 153 shares during the last quarter. Veery Capital LLC lifted its position in shares of AstraZeneca by 4.7% during the 4th quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock valued at $230,000 after buying an additional 157 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of AstraZeneca by 1.9% during the 3rd quarter. Harbour Investments Inc. now owns 8,805 shares of the company’s stock valued at $686,000 after buying an additional 160 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in shares of AstraZeneca by 1.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock valued at $788,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZN. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $77.50 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca PLC has a 52-week low of $62.75 and a 52-week high of $87.68. The firm has a market cap of $240.34 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.42 and a beta of 0.41. The business’s fifty day moving average is $70.61 and its 200 day moving average is $72.88.

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

AstraZeneca Increases Dividend

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

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.