50,789 Shares in AstraZeneca PLC (NASDAQ:AZN) Purchased by Madison Investment Advisors LLC

Madison Investment Advisors LLC bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, Holdings Channel reports. The institutional investor bought 50,789 shares of the company’s stock, valued at approximately $3,328,000.

Other hedge funds have also made changes to their positions in the company. Albion Financial Group UT increased its position in shares of AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares in the last quarter. Versant Capital Management Inc increased its position in shares of AstraZeneca by 2,618.5% during the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after purchasing an additional 707 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of AstraZeneca during the 4th quarter worth about $55,000. Crews Bank & Trust acquired a new stake in shares of AstraZeneca during the 4th quarter worth about $55,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in AstraZeneca during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AZN. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley began coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Down 2.1 %

Shares of NASDAQ AZN opened at $74.93 on Friday. The firm has a market capitalization of $232.37 billion, a PE ratio of 33.16, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The firm’s 50-day moving average is $72.83 and its 200-day moving average is $72.10.

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 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%. Equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

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

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.