Daiwa Securities Group Inc. Trims Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Daiwa Securities Group Inc. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,297 shares of the company’s stock after selling 10,193 shares during the quarter. Daiwa Securities Group Inc.’s holdings in AstraZeneca were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AZN. Albion Financial Group UT grew its position in AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after buying an additional 101,225 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of AstraZeneca during the third quarter worth about $45,000. Versant Capital Management Inc grew its holdings in shares of AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after buying an additional 707 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in AstraZeneca in the 4th quarter valued at about $55,000. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

NASDAQ AZN opened at $76.51 on Friday. The stock has a market capitalization of $237.27 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 1.42 and a beta of 0.41. The business’s 50 day moving average is $71.63 and its two-hundred day moving average is $72.54. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. 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 (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share 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 expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

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