Brandywine Global Investment Management LLC Acquires Shares of 428,441 AstraZeneca PLC (NASDAQ:AZN)

Brandywine Global Investment Management LLC bought a new position in AstraZeneca PLC (NASDAQ:AZN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 428,441 shares of the company’s stock, valued at approximately $28,071,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its position in AstraZeneca by 236.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,117,094 shares of the company’s stock worth $73,192,000 after acquiring an additional 784,753 shares in the last quarter. Tucker Asset Management LLC lifted its position in shares of AstraZeneca by 23.0% during the fourth quarter. Tucker Asset Management LLC now owns 3,388 shares of the company’s stock worth $222,000 after purchasing an additional 633 shares in the last quarter. Intrust Bank NA boosted its stake in shares of AstraZeneca by 2.5% in the fourth quarter. Intrust Bank NA now owns 14,056 shares of the company’s stock valued at $921,000 after purchasing an additional 348 shares during the period. Brown Brothers Harriman & Co. grew its holdings in AstraZeneca by 3.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 6,742 shares of the company’s stock valued at $442,000 after purchasing an additional 236 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its stake in AstraZeneca by 1.6% during the 4th quarter. Ramirez Asset Management Inc. now owns 52,893 shares of the company’s stock worth $3,466,000 after buying an additional 808 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

Shares of AZN stock opened at $73.79 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The stock has a market capitalization of $228.84 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a one year low of $62.75 and a one year high of $87.68. The company’s 50-day simple moving average is $73.55 and its 200-day simple moving average is $71.61.

AstraZeneca (NASDAQ:AZN) last issued its 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 return on equity of 32.23% and a net margin of 13.01%. Equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a $1.03 dividend. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s payout ratio is presently 91.15%.

Analyst Upgrades and Downgrades

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