Allspring Global Investments Holdings LLC Acquires 93,071 Shares of AstraZeneca PLC (NASDAQ:AZN)

Allspring Global Investments Holdings LLC grew its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 153.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,695 shares of the company’s stock after purchasing an additional 93,071 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AstraZeneca were worth $10,125,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Martin Investment Management LLC grew its position in AstraZeneca by 2.8% in the third quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock worth $22,571,000 after acquiring an additional 7,615 shares in the last quarter. Nordea Investment Management AB purchased a new position in AstraZeneca in the fourth quarter worth $754,000. Diversify Wealth Management LLC grew its position in AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after acquiring an additional 153 shares in the last quarter. Ameritas Advisory Services LLC grew its position in AstraZeneca by 25.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after acquiring an additional 1,949 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its position in AstraZeneca by 46.6% in the third quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock worth $3,398,000 after acquiring an additional 13,860 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AZN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley started coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AstraZeneca has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.7 %

Shares of AstraZeneca stock opened at $74.80 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. AstraZeneca PLC has a twelve month low of $62.75 and a twelve month high of $87.68. The company has a market cap of $231.95 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The company’s 50 day moving average is $68.32 and its 200 day moving average is $73.29.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. Research analysts anticipate that AstraZeneca PLC will post 4.66 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be paid a dividend of $1.03 per share. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is presently 43.36%.

AstraZeneca 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.