AstraZeneca PLC $AZN Holdings Cut by Northern Trust Corp

Northern Trust Corp lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 0.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,666,777 shares of the company’s stock after selling 25,901 shares during the period. Northern Trust Corp’s holdings in AstraZeneca were worth $343,008,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Banque Transatlantique SA bought a new stake in shares of AstraZeneca in the 4th quarter valued at approximately $26,000. Confluence Investment Management LLC acquired a new stake in AstraZeneca in the first quarter valued at approximately $27,000. Larson Financial Group LLC lifted its stake in AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after acquiring an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in AstraZeneca in the fourth quarter worth approximately $29,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca during the 1st quarter worth $29,000. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Trading Up 1.2%

Shares of AZN stock opened at $80.52 on Thursday. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68. The company has a market cap of $249.72 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.36. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $72.69 and its two-hundred day moving average is $72.08.

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

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca 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.