Wealth Effects LLC Purchases New Shares in AstraZeneca PLC (NASDAQ:AZN)

Wealth Effects LLC acquired a new position in AstraZeneca PLC (NASDAQ:AZN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,725 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Simon Quick Advisors LLC grew its stake in AstraZeneca by 33.9% in the second quarter. Simon Quick Advisors LLC now owns 6,162 shares of the company’s stock worth $481,000 after purchasing an additional 1,560 shares during the period. Cozad Asset Management Inc. increased its stake in shares of AstraZeneca by 25.8% in the 2nd quarter. Cozad Asset Management Inc. now owns 40,910 shares of the company’s stock worth $3,191,000 after acquiring an additional 8,400 shares in the last quarter. Founders Financial Securities LLC lifted its position in AstraZeneca by 5.7% during the 2nd quarter. Founders Financial Securities LLC now owns 12,666 shares of the company’s stock valued at $988,000 after acquiring an additional 684 shares during the period. Naviter Wealth LLC boosted its stake in AstraZeneca by 11.0% during the second quarter. Naviter Wealth LLC now owns 70,130 shares of the company’s stock worth $5,469,000 after acquiring an additional 6,968 shares in the last quarter. Finally, LifeGuide Financial Advisors LLC grew its holdings in AstraZeneca by 45.2% in the second quarter. LifeGuide Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $352,000 after purchasing an additional 1,406 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AZN. TD Cowen upped their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus raised their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Price Performance

NASDAQ AZN opened at $85.75 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. The stock has a market capitalization of $265.87 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.65 and a beta of 0.47. The business’s fifty day moving average price is $81.23 and its 200-day moving average price is $75.40.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that AstraZeneca PLC will post 4.06 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s payout ratio is presently 48.04%.

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.