Professional Advisory Services Inc. Decreases Stake in AstraZeneca PLC (NASDAQ:AZN)

Professional Advisory Services Inc. lowered its position in AstraZeneca PLC (NASDAQ:AZN) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 276,528 shares of the company’s stock after selling 3,699 shares during the quarter. AstraZeneca comprises 2.8% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 21st largest holding. Professional Advisory Services Inc.’s holdings in AstraZeneca were worth $21,544,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. purchased a new stake in AstraZeneca in the 2nd quarter worth about $26,000. Pathway Financial Advisers LLC purchased a new position in AstraZeneca during the 1st quarter valued at about $29,000. RFP Financial Group LLC grew its holdings in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after buying an additional 178 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in AstraZeneca by 40.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock valued at $34,000 after buying an additional 146 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in AstraZeneca during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $78.37 on Friday. The business has a 50 day moving average of $81.19 and a 200 day moving average of $78.04. The company has a market capitalization of $242.99 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 1.44 and a beta of 0.46. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. 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 (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the company posted $1.08 EPS. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were given a $0.49 dividend. The ex-dividend date was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s payout ratio is currently 48.04%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AZN. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. TD Cowen lifted their target price on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.75.

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.