Creative Planning Boosts Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Creative Planning lifted its holdings in AstraZeneca PLC (NASDAQ:AZN) by 18.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 208,059 shares of the company’s stock after purchasing an additional 32,132 shares during the period. Creative Planning’s holdings in AstraZeneca were worth $16,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GHP Investment Advisors Inc. bought a new stake in AstraZeneca during the second quarter valued at about $26,000. Able Wealth Management LLC purchased a new position in shares of AstraZeneca in the 4th quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new position in shares of AstraZeneca during the 1st quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. lifted its position in AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares during the last quarter. Finally, RFP Financial Group LLC boosted its stake in AstraZeneca by 56.3% in the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen increased their price objective on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Finally, Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

AZN opened at $77.91 on Tuesday. The firm has a fifty day moving average price of $81.66 and a 200 day moving average price of $77.18. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The stock has a market cap of $241.57 billion, a P/E ratio of 38.19, a P/E/G ratio of 1.47 and a beta of 0.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

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

AstraZeneca Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were given a $0.49 dividend. This represents a dividend yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is presently 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.