Envestnet Portfolio Solutions Inc. Trims Position in AstraZeneca PLC $AZN

Envestnet Portfolio Solutions Inc. cut its position in AstraZeneca PLC (NASDAQ:AZN) by 21.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,058 shares of the company’s stock after selling 17,148 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AstraZeneca were worth $4,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC grew its stake in AstraZeneca by 58.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company’s stock valued at $960,000 after acquiring an additional 4,811 shares in the last quarter. SCS Capital Management LLC purchased a new position in AstraZeneca during the first quarter valued at $3,066,000. Robbins Farley purchased a new position in AstraZeneca during the second quarter valued at $1,857,000. Oliver Luxxe Assets LLC grew its stake in AstraZeneca by 6.0% during the second quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company’s stock valued at $5,472,000 after acquiring an additional 4,449 shares in the last quarter. Finally, Alhambra Investment Management LLC purchased a new position in AstraZeneca during the second quarter valued at $320,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AZN stock opened at $84.83 on Thursday. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $86.57. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $79.82 and a 200 day moving average price of $73.69. The stock has a market cap of $263.09 billion, a PE ratio of 31.89, a P/E/G ratio of 1.56 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting analysts’ consensus estimates of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.08 billion. During the same period in the previous year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a dividend of $0.505 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s payout ratio is currently 37.97%.

Analyst Ratings Changes

A number of brokerages have commented on AZN. Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.00.

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.