Rhumbline Advisers Has $1.91 Million Position in AstraZeneca PLC (NASDAQ:AZN)

Rhumbline Advisers lifted its stake in AstraZeneca PLC (NASDAQ:AZN) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,123 shares of the company’s stock after acquiring an additional 404 shares during the quarter. Rhumbline Advisers’ holdings in AstraZeneca were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AZN. Center for Financial Planning Inc. raised its stake in shares of AstraZeneca by 57.5% during the 4th quarter. Center for Financial Planning Inc. now owns 1,057 shares of the company’s stock worth $69,000 after purchasing an additional 386 shares in the last quarter. Asset Planning Inc acquired a new stake in AstraZeneca in the fourth quarter valued at approximately $66,000. Pictet North America Advisors SA lifted its stake in AstraZeneca by 214.1% in the fourth quarter. Pictet North America Advisors SA now owns 95,562 shares of the company’s stock valued at $6,261,000 after acquiring an additional 65,137 shares during the last quarter. Avestar Capital LLC grew its position in AstraZeneca by 19.0% in the fourth quarter. Avestar Capital LLC now owns 15,427 shares of the company’s stock worth $1,011,000 after acquiring an additional 2,462 shares in the last quarter. Finally, Naples Global Advisors LLC increased its stake in shares of AstraZeneca by 0.6% during the 4th quarter. Naples Global Advisors LLC now owns 54,779 shares of the company’s stock worth $3,589,000 after purchasing an additional 301 shares during the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AZN. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $76.10 on Tuesday. The business’s 50 day moving average is $69.94 and its two-hundred day moving average is $72.86. The company has a market cap of $236.00 billion, a P/E ratio of 33.67, a P/E/G ratio of 1.42 and a beta of 0.46. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. On average, equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a dividend of $1.03 per share. The ex-dividend date is Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. AstraZeneca’s payout ratio is currently 91.15%.

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.