Channel Wealth LLC Raises Holdings in AstraZeneca PLC (NASDAQ:AZN)

Channel Wealth LLC increased its position in AstraZeneca PLC (NASDAQ:AZN) by 144.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,175 shares of the company’s stock after buying an additional 23,711 shares during the quarter. Channel Wealth LLC’s holdings in AstraZeneca were worth $2,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. FMR LLC increased its holdings in AstraZeneca by 1.1% in the 3rd quarter. FMR LLC now owns 23,117,447 shares of the company’s stock valued at $1,801,080,000 after purchasing an additional 258,477 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of AstraZeneca by 8.7% during the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock valued at $1,492,649,000 after acquiring an additional 1,522,715 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of AstraZeneca by 5.3% during the third quarter. Fisher Asset Management LLC now owns 10,480,160 shares of the company’s stock valued at $816,509,000 after acquiring an additional 524,175 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of AstraZeneca by 5.8% during the second quarter. Clearbridge Investments LLC now owns 3,403,748 shares of the company’s stock valued at $265,458,000 after acquiring an additional 186,010 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of AstraZeneca by 109.6% during the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock valued at $238,397,000 after acquiring an additional 1,605,758 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZN shares. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

AZN opened at $66.91 on Friday. The business’s 50 day moving average is $66.06 and its 200-day moving average is $74.57. The stock has a market cap of $207.46 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.46. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. The company had revenue of $13.57 billion for the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, analysts predict that AstraZeneca PLC will post 4.11 earnings per share for the current year.

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.