Clearbridge Investments LLC Grows Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Clearbridge Investments LLC lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,403,748 shares of the company’s stock after purchasing an additional 186,010 shares during the period. Clearbridge Investments LLC owned 0.11% of AstraZeneca worth $265,458,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in AstraZeneca in the 2nd quarter worth $26,000. Able Wealth Management LLC bought a new position in shares of AstraZeneca in the 4th quarter worth about $27,000. Pathway Financial Advisers LLC purchased a new position in AstraZeneca during the 1st quarter valued at about $29,000. Pin Oak Investment Advisors Inc. boosted its stake in AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after acquiring an additional 370 shares in the last quarter. Finally, RFP Financial Group LLC increased its stake 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 purchasing an additional 178 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

AstraZeneca Price Performance

NASDAQ AZN opened at $78.67 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The stock has a market cap of $243.92 billion, a price-to-earnings ratio of 38.56, a PEG ratio of 1.47 and a beta of 0.47. The company’s 50 day moving average is $81.65 and its two-hundred day moving average is $77.26.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter in the previous year, the company earned $1.08 EPS. AstraZeneca’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

Analyst Ratings Changes

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