Bank of New York Mellon Corp Has $60.58 Million Position in AstraZeneca PLC (NASDAQ:AZN)

Bank of New York Mellon Corp decreased its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 924,527 shares of the company's stock after selling 35,444 shares during the period. Bank of New York Mellon Corp's holdings in AstraZeneca were worth $60,575,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AZN. Capital Performance Advisors LLP bought a new position in AstraZeneca during the third quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of AstraZeneca during the third quarter valued at about $45,000. Albion Financial Group UT lifted its stake in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company's stock valued at $40,000 after buying an additional 248 shares during the period. Hollencrest Capital Management grew its position in AstraZeneca by 38.4% during the third quarter. Hollencrest Capital Management now owns 692 shares of the company's stock worth $54,000 after buying an additional 192 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company's stock valued at $48,000 after acquiring an additional 707 shares during the period. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Price Performance

AstraZeneca stock traded up $0.71 during mid-day trading on Wednesday, hitting $77.96. 4,909,487 shares of the company were exchanged, compared to its average volume of 5,656,809. The company has a market capitalization of $241.77 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The business has a fifty day moving average of $70.39 and a 200 day moving average of $72.84. AstraZeneca PLC has a 1-year low of $62.75 and a 1-year high of $87.68. 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 (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts' consensus estimates 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 expect 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. Shareholders of record on Friday, February 21st will be given a $1.03 dividend. This is an increase from AstraZeneca's previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. AstraZeneca's payout ratio is presently 91.15%.

Wall Street Analysts Forecast Growth

AZN has been the topic of several recent research reports. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a 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 initiated coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They issued an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has a consensus rating of "Buy" and a consensus target price of $89.75.

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.