Summit Securities Group LLC Trims Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Summit Securities Group LLC decreased its stake in AstraZeneca PLC (NASDAQ:AZN) by 93.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the company’s stock after selling 8,382 shares during the period. Summit Securities Group LLC’s holdings in AstraZeneca were worth $37,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of AstraZeneca by 236.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,117,094 shares of the company’s stock worth $73,192,000 after purchasing an additional 784,753 shares during the last quarter. Tucker Asset Management LLC grew its stake in AstraZeneca by 23.0% during the 4th quarter. Tucker Asset Management LLC now owns 3,388 shares of the company’s stock worth $222,000 after buying an additional 633 shares during the last quarter. Intrust Bank NA increased its position in AstraZeneca by 2.5% during the fourth quarter. Intrust Bank NA now owns 14,056 shares of the company’s stock worth $921,000 after buying an additional 348 shares during the period. Brown Brothers Harriman & Co. lifted its stake in AstraZeneca by 3.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 6,742 shares of the company’s stock valued at $442,000 after buying an additional 236 shares during the last quarter. Finally, Ramirez Asset Management Inc. boosted its holdings in shares of AstraZeneca by 1.6% in the fourth quarter. Ramirez Asset Management Inc. now owns 52,893 shares of the company’s stock valued at $3,466,000 after acquiring an additional 808 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Up 1.3 %

Shares of AstraZeneca stock opened at $73.79 on Monday. The company has a market cap of $228.84 billion, a P/E ratio of 32.65, a PEG ratio of 1.42 and a beta of 0.41. The firm has a fifty day moving average of $73.55 and a two-hundred day moving average of $71.61. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca PLC has a one year low of $62.75 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data 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 net margin of 13.01% and a return on equity of 32.23%. On average, analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were paid a $1.03 dividend. The ex-dividend date was Friday, February 21st. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. AstraZeneca’s payout ratio is 91.15%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AZN shares. Morgan Stanley started coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. 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. According to MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and an average price target of $89.75.

About AstraZeneca

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.