Alpine Bank Wealth Management Invests $72,000 in AstraZeneca PLC (NASDAQ:AZN)

Alpine Bank Wealth Management acquired a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 986 shares of the company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in shares of AstraZeneca during the 4th quarter valued at $26,000. Confluence Investment Management LLC acquired a new position in AstraZeneca during the first quarter worth $27,000. Mascagni Wealth Management Inc. acquired a new position in AstraZeneca during the fourth quarter worth $29,000. FNY Investment Advisers LLC bought a new position in AstraZeneca during the first quarter valued at about $29,000. Finally, Highline Wealth Partners LLC lifted its position in shares of AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock worth $31,000 after buying an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

Separately, BNP Paribas initiated coverage on AstraZeneca in a report on Tuesday, April 15th. They set an “outperform” rating and a $75.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

AstraZeneca Price Performance

Shares of AstraZeneca stock opened at $69.68 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.70 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $70.50 and a 200-day simple moving average of $70.45. The stock has a market capitalization of $216.10 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.29 and a beta of 0.38. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Tuesday, April 29th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. AstraZeneca had a net margin of 14.14% and a return on equity of 33.14%. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.71 billion. During the same quarter last year, the firm posted $2.06 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

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.