Magnolia Capital Advisors LLC Purchases Shares of 2,614 AstraZeneca PLC (NASDAQ:AZN)

Magnolia Capital Advisors LLC purchased a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,614 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also made changes to their positions in AZN. GHP Investment Advisors Inc. acquired a new stake in shares of AstraZeneca during the second quarter valued at about $26,000. Able Wealth Management LLC acquired a new stake in shares of AstraZeneca during the fourth quarter valued at about $27,000. Pathway Financial Advisers LLC acquired a new stake in shares of AstraZeneca during the first quarter valued at about $29,000. Pin Oak Investment Advisors Inc. increased its position in shares of 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 increased its position in shares of AstraZeneca by 56.3% during 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 during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. TD Cowen raised their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, AstraZeneca presently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Up 0.4 %

Shares of AstraZeneca stock opened at $77.91 on Tuesday. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The company has a 50 day moving average of $81.66 and a 200 day moving average of $77.18. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The company has a market capitalization 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.

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

AstraZeneca Cuts Dividend

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