AstraZeneca PLC (NASDAQ:AZN) Receives $89.75 Average PT from Brokerages

Shares of AstraZeneca PLC (NASDAQ:AZN - Get Free Report) have earned an average rating of "Buy" from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $89.75.

Several analysts have issued reports on AZN shares. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They issued an "overweight" rating for the company.

AstraZeneca Stock Up 1.3 %

NASDAQ:AZN traded up $0.96 during mid-day trading on Friday, reaching $74.54. The company's stock had a trading volume of 1,451,196 shares, compared to its average volume of 5,193,167. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. AstraZeneca has a 1 year low of $62.75 and a 1 year high of $87.68. The stock has a fifty day moving average of $68.17 and a 200-day moving average of $73.34. The firm has a market capitalization of $231.16 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. Equities research analysts forecast that AstraZeneca will post 4.66 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a $1.03 dividend. This represents a yield of 2%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's dividend payout ratio (DPR) is currently 43.36%.

Hedge Funds Weigh In On AstraZeneca

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stratos Wealth Advisors LLC increased its stake in AstraZeneca by 2.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company's stock valued at $522,000 after purchasing an additional 133 shares in the last quarter. Cibc World Markets Corp increased its position in shares of AstraZeneca by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 12,901 shares of the company's stock valued at $845,000 after acquiring an additional 142 shares during the period. Crumly & Associates Inc. raised its stake in AstraZeneca by 2.2% in the 3rd quarter. Crumly & Associates Inc. now owns 6,644 shares of the company's stock worth $518,000 after acquiring an additional 143 shares during the last quarter. Diversify Wealth Management LLC lifted its position in AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company's stock worth $295,000 after acquiring an additional 153 shares during the period. Finally, CoreCap Advisors LLC grew its stake in AstraZeneca by 31.8% during the 4th quarter. CoreCap Advisors LLC now owns 642 shares of the company's stock valued at $42,000 after purchasing an additional 155 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

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.