Wrapmanager Inc. Boosts Position in AstraZeneca PLC (NASDAQ:AZN)

Wrapmanager Inc. boosted its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 24.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,830 shares of the company’s stock after purchasing an additional 1,137 shares during the period. Wrapmanager Inc.’s holdings in AstraZeneca were worth $382,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB grew its stake in AstraZeneca by 1.3% in the third quarter. Swedbank AB now owns 2,705,757 shares of the company’s stock worth $210,806,000 after purchasing an additional 35,000 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in AstraZeneca by 268.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 60,624 shares of the company’s stock valued at $4,723,000 after purchasing an additional 44,189 shares in the last quarter. Allworth Financial LP boosted its position in AstraZeneca by 6.0% during the third quarter. Allworth Financial LP now owns 11,307 shares of the company’s stock valued at $881,000 after purchasing an additional 637 shares in the last quarter. Arkadios Wealth Advisors grew its stake in AstraZeneca by 174.9% in the third quarter. Arkadios Wealth Advisors now owns 12,762 shares of the company’s stock valued at $994,000 after purchasing an additional 8,120 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in AstraZeneca by 3.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 191,741 shares of the company’s stock worth $14,939,000 after purchasing an additional 5,589 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Trading Up 0.6 %

NASDAQ AZN opened at $74.69 on Tuesday. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The company has a fifty day simple moving average of $68.92 and a two-hundred day simple moving average of $73.12. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The stock has a market cap of $231.63 billion, a P/E ratio of 33.05, a P/E/G ratio of 1.42 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its earnings results 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 32.23% and a net margin of 13.01%. On average, analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

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

Analysts Set New Price Targets

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

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.