Teachers Retirement System of The State of Kentucky Sells 336,490 Shares of AstraZeneca PLC (NASDAQ:AZN)

Teachers Retirement System of The State of Kentucky decreased its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 66.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 169,582 shares of the company's stock after selling 336,490 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in AstraZeneca were worth $11,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AZN. Geode Capital Management LLC boosted its position in AstraZeneca by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 493,447 shares of the company's stock valued at $38,444,000 after buying an additional 1,269 shares during the last quarter. Advisory Resource Group acquired a new stake in AstraZeneca in the third quarter worth about $946,000. Virtu Financial LLC bought a new stake in AstraZeneca during the 3rd quarter worth about $4,822,000. Anchor Investment Management LLC lifted its position in AstraZeneca by 231.3% during the 3rd quarter. Anchor Investment Management LLC now owns 1,279 shares of the company's stock valued at $100,000 after purchasing an additional 893 shares during the period. Finally, World Investment Advisors LLC grew its position in shares of AstraZeneca by 115.5% during the 3rd quarter. World Investment Advisors LLC now owns 8,267 shares of the company's stock worth $644,000 after buying an additional 4,430 shares during the period. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Performance

AZN stock traded up $1.04 during mid-day trading on Thursday, hitting $69.55. 3,432,007 shares of the company were exchanged, compared to its average volume of 5,217,045. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $87.68. The stock has a market capitalization of $215.69 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. The business has a 50 day simple moving average of $72.43 and a 200-day simple moving average of $70.30. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its 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 return on equity of 32.23% and a net margin of 13.01%. On average, equities analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $1.03 per share. This represents a dividend yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's dividend payout ratio is 91.15%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley assumed coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued 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. Finally, BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $86.80.

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.