AGF Management Ltd. Sells 1,336,869 Shares of AstraZeneca PLC (NASDAQ:AZN)

AGF Management Ltd. lowered its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 99.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,246 shares of the company's stock after selling 1,336,869 shares during the period. AGF Management Ltd.'s holdings in AstraZeneca were worth $213,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of AstraZeneca by 1.1% in the third quarter. FMR LLC now owns 23,117,447 shares of the company's stock valued at $1,801,080,000 after buying an additional 258,477 shares in the last quarter. Franklin Resources Inc. grew its position in AstraZeneca by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company's stock worth $1,492,649,000 after purchasing an additional 1,522,715 shares in the last quarter. Jennison Associates LLC grew its position in AstraZeneca by 3.1% during the 4th quarter. Jennison Associates LLC now owns 15,430,963 shares of the company's stock worth $1,011,037,000 after purchasing an additional 466,416 shares in the last quarter. Fisher Asset Management LLC grew its position in AstraZeneca by 4.6% during the 4th quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company's stock worth $718,090,000 after purchasing an additional 479,692 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its position in AstraZeneca by 17.7% during the 4th quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company's stock worth $245,407,000 after purchasing an additional 564,297 shares in the last quarter. Institutional investors own 20.35% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $89.75.

AstraZeneca Stock Down 1.0 %

Shares of AstraZeneca stock traded down $0.75 on Wednesday, hitting $76.32. 4,013,784 shares of the company traded hands, compared to its average volume of 4,935,128. The company has a 50-day moving average price of $72.28 and a 200 day moving average price of $72.13. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The company has a market cap of $236.68 billion, a PE ratio of 33.77, a PEG ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Sell-side analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from AstraZeneca's previous semi-annual dividend of $0.49. This represents a yield of 2%. AstraZeneca's dividend payout ratio is currently 91.15%.

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.