SouthState Corp Trims Holdings in AstraZeneca PLC (NASDAQ:AZN)

SouthState Corp lessened its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,759 shares of the company’s stock after selling 1,988 shares during the period. SouthState Corp’s holdings in AstraZeneca were worth $4,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Swedbank AB grew its holdings in shares of AstraZeneca by 1.3% during the 3rd quarter. Swedbank AB now owns 2,705,757 shares of the company’s stock worth $210,806,000 after acquiring an additional 35,000 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of AstraZeneca by 13.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 84,511 shares of the company’s stock worth $6,584,000 after acquiring an additional 9,795 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of AstraZeneca by 36.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 22,564 shares of the company’s stock worth $1,758,000 after acquiring an additional 5,999 shares during the period. OneDigital Investment Advisors LLC grew its holdings in shares of AstraZeneca by 5.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 27,645 shares of the company’s stock worth $2,154,000 after acquiring an additional 1,333 shares during the period. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in shares of AstraZeneca during the 3rd quarter worth approximately $204,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analyst Ratings Changes

AZN has been the topic of several recent research reports. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Performance

AZN stock opened at $77.60 on Monday. The stock has a market capitalization of $240.65 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. 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’s 50 day simple moving average is $71.86 and its 200 day simple moving average is $72.27.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently disclosed 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 is Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is 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.