Primecap Management Co. CA Trims Holdings in AstraZeneca PLC (NASDAQ:AZN)

Primecap Management Co. CA trimmed its position in AstraZeneca PLC (NASDAQ:AZN) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,019,527 shares of the company’s stock after selling 960,518 shares during the quarter. AstraZeneca comprises 2.1% of Primecap Management Co. CA’s holdings, making the stock its 12th largest position. Primecap Management Co. CA owned approximately 1.32% of AstraZeneca worth $2,687,599,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB purchased a new position in shares of AstraZeneca in the fourth quarter worth about $754,000. Diversify Wealth Management LLC raised its position in AstraZeneca by 3.6% during the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after acquiring an additional 153 shares in the last quarter. Ameritas Advisory Services LLC raised its position in AstraZeneca by 25.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock valued at $622,000 after acquiring an additional 1,949 shares in the last quarter. Oak Ridge Investments LLC raised its position in AstraZeneca by 5.4% during the fourth quarter. Oak Ridge Investments LLC now owns 143,973 shares of the company’s stock valued at $9,433,000 after acquiring an additional 7,341 shares in the last quarter. Finally, Asio Capital LLC raised its position in AstraZeneca by 11.6% during the fourth quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock valued at $3,508,000 after acquiring an additional 5,569 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Down 0.3 %

AstraZeneca stock opened at $77.37 on Tuesday. The stock has a market capitalization of $239.94 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The business has a 50 day simple moving average of $72.07 and a 200-day simple moving average of $72.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data 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 net margin of 13.01% and a return on equity of 32.23%. On average, analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

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

Analyst Upgrades and Downgrades

AZN has been the subject of several recent research reports. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and an average price target 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.