CIBC Asset Management Inc Sells 3,652 Shares of AstraZeneca PLC (NASDAQ:AZN)

CIBC Asset Management Inc trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.5% during the fourth quarter, HoldingsChannel reports. The fund owned 234,616 shares of the company’s stock after selling 3,652 shares during the period. CIBC Asset Management Inc’s holdings in AstraZeneca were worth $15,372,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. lifted its position in shares of AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of AstraZeneca in the 3rd quarter valued at about $28,000. Albion Financial Group UT raised its holdings in AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after acquiring an additional 248 shares in the last quarter. Groupama Asset Managment boosted its position in AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after purchasing an additional 101,225 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of AstraZeneca during the 3rd quarter worth approximately $45,000. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AZN shares. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a 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 began coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Down 1.2 %

AZN stock opened at $73.58 on Tuesday. The business’s fifty day moving average price is $68.17 and its two-hundred day moving average price is $73.34. The stock has a market capitalization of $228.18 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 1.20 and a beta of 0.46. AstraZeneca PLC has a fifty-two week low of $61.77 and a fifty-two week high of $87.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last announced 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 32.55% and a net margin of 13.01%. On average, equities analysts anticipate that AstraZeneca PLC will post 4.66 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a $1.03 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 43.36%.

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.