M&R Capital Management Inc. Reduces Holdings in AstraZeneca PLC (NASDAQ:AZN)

M&R Capital Management Inc. trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,274 shares of the company’s stock after selling 880 shares during the period. AstraZeneca comprises approximately 1.9% of M&R Capital Management Inc.’s holdings, making the stock its 14th biggest holding. M&R Capital Management Inc.’s holdings in AstraZeneca were worth $8,669,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. GHP Investment Advisors Inc. purchased a new stake in AstraZeneca in the 2nd quarter worth approximately $26,000. Able Wealth Management LLC purchased a new stake in AstraZeneca in the 4th quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new stake in AstraZeneca in the 1st quarter worth approximately $29,000. Pin Oak Investment Advisors Inc. grew its stake in AstraZeneca by 468.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after acquiring an additional 370 shares during the period. Finally, RFP Financial Group LLC grew its stake in AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AZN opened at $79.58 on Thursday. The company has a 50-day moving average of $81.65 and a 200-day moving average of $77.28. The company has a market capitalization of $246.74 billion, a P/E ratio of 39.01, a PEG ratio of 1.47 and a beta of 0.46. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. 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 (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 EPS. Equities analysts expect that AstraZeneca PLC will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently disclosed 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 presently 48.04%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AZN. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research note 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. TD Cowen boosted 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, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $89.75.

AstraZeneca Company Profile

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.