AstraZeneca PLC (NASDAQ:AZN) Stock Position Lifted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 62.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,329 shares of the company’s stock after purchasing an additional 10,500 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in AstraZeneca were worth $2,131,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. bought a new stake in shares of AstraZeneca during the 2nd quarter worth about $26,000. Able Wealth Management LLC bought a new stake in AstraZeneca during the fourth quarter worth approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca in the first quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. lifted its position in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, RFP Financial Group LLC boosted its stake in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AZN. Barclays raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus raised their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. TD Cowen boosted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, The Goldman Sachs Group initiated coverage on AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Trading Down 0.7 %

AstraZeneca stock opened at $78.38 on Monday. The company has a 50 day moving average price of $81.80 and a 200 day moving average price of $76.65. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $87.68. The firm has a market capitalization of $243.02 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 1.49 and a beta of 0.47.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share. Research analysts forecast that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 9th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 9th. AstraZeneca’s dividend payout ratio is currently 48.04%.

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.