Bank of Montreal Can reduced its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,026,292 shares of the company's stock after selling 2,045,041 shares during the quarter. Bank of Montreal Can's holdings in AstraZeneca were worth $67,243,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AZN. Boston Partners raised its holdings in shares of AstraZeneca by 9,985.6% in the 4th quarter. Boston Partners now owns 3,707,479 shares of the company's stock worth $243,444,000 after acquiring an additional 3,670,719 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of AstraZeneca in the fourth quarter worth $158,018,000. Franklin Resources Inc. boosted its stake in AstraZeneca by 8.7% in the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company's stock worth $1,492,649,000 after buying an additional 1,522,715 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of AstraZeneca by 65.1% during the fourth quarter. Alliancebernstein L.P. now owns 3,101,025 shares of the company's stock valued at $203,179,000 after acquiring an additional 1,222,669 shares in the last quarter. Finally, Parnassus Investments LLC increased its position in AstraZeneca by 15,819.8% during the 4th quarter. Parnassus Investments LLC now owns 1,179,018 shares of the company's stock valued at $77,249,000 after purchasing an additional 1,171,612 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.
AstraZeneca Stock Performance
Shares of AZN stock traded up $1.90 during trading hours on Monday, reaching $68.19. 4,440,686 shares of the company traded hands, compared to its average volume of 5,244,550. 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 $211.47 billion, a P/E ratio of 30.17, a P/E/G ratio of 1.42 and a beta of 0.49. The firm has a 50-day moving average price of $73.35 and a 200 day moving average price of $70.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.
AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (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%. As a group, sell-side analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.
AstraZeneca Increases Dividend
The business also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a dividend of $1.03 per share. The ex-dividend date was Friday, February 21st. This represents a dividend yield of 2%. This is an increase from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's payout ratio is currently 91.15%.
Analyst Ratings Changes
A number of research analysts have recently commented on AZN shares. UBS Group upgraded AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $89.75.
Get Our Latest Analysis on AZN
AstraZeneca Company Profile
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Free Report)
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.
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