Horizon Investments LLC Increases Stake in AstraZeneca PLC (NASDAQ:AZN)

Horizon Investments LLC raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 22.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,302 shares of the company’s stock after purchasing an additional 2,954 shares during the quarter. Horizon Investments LLC’s holdings in AstraZeneca were worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Albion Financial Group UT grew its position in shares of AstraZeneca by 68.9% in 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. Versant Capital Management Inc boosted 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 purchasing an additional 707 shares during the period. Golden State Wealth Management LLC purchased a new position in AstraZeneca during the 4th quarter valued at about $55,000. Crews Bank & Trust bought a new stake in shares of AstraZeneca during the fourth quarter valued at about $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of AstraZeneca in the fourth quarter worth about $55,000. Institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AZN shares. Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One equities research 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 stock. Based on data from MarketBeat, AstraZeneca has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $76.32 on Thursday. The company’s fifty day moving average price is $72.47 and its 200-day moving average price is $72.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The firm has a market capitalization of $236.68 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a one year low of $62.75 and a one year high of $87.68.

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

AstraZeneca Increases Dividend

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

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.