Clearbridge Investments LLC Lowers Position in AstraZeneca PLC (NASDAQ:AZN)

Clearbridge Investments LLC trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,464,189 shares of the company’s stock after selling 119,082 shares during the period. Clearbridge Investments LLC owned 0.11% of AstraZeneca worth $226,974,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Albion Financial Group UT grew its position in shares of AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after purchasing an additional 248 shares in the last quarter. Groupama Asset Managment grew its holdings in AstraZeneca by 22.9% during the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after buying an additional 101,225 shares in the last quarter. Versant Capital Management Inc increased its stake in AstraZeneca by 2,618.5% in the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after acquiring an additional 707 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of AstraZeneca during the 4th quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC bought a new position in shares of AstraZeneca during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Up 1.3 %

Shares of AZN opened at $73.79 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $73.55 and a 200 day moving average of $71.61. The company has a market cap of $228.84 billion, a PE ratio of 32.65, a P/E/G ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 52-week low of $62.75 and a 52-week high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. On average, sell-side 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 was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were paid a dividend of $1.03 per share. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio is currently 91.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AZN. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of AstraZeneca in a report 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 given a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Buy” and a consensus target price 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.