Cinctive Capital Management LP Acquires 39,718 Shares of AstraZeneca PLC (NASDAQ:AZN)

Cinctive Capital Management LP lifted its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 88.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,653 shares of the company's stock after acquiring an additional 39,718 shares during the quarter. Cinctive Capital Management LP's holdings in AstraZeneca were worth $5,546,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its holdings 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 purchasing an additional 248 shares in the last quarter. Groupama Asset Managment boosted its position in AstraZeneca by 22.9% during the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company's stock worth $42,000 after acquiring an additional 101,225 shares during the period. Versant Capital Management Inc increased its holdings in shares of AstraZeneca by 2,618.5% in the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company's stock valued at $48,000 after purchasing an additional 707 shares during the period. Crews Bank & Trust acquired a new position in shares of AstraZeneca in the 4th quarter valued at about $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of AstraZeneca in the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 20.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AZN. UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They issued an "overweight" rating on the stock. One investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $89.75.

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AstraZeneca Stock Up 1.0 %

Shares of AZN traded up $0.65 during mid-day trading on Tuesday, hitting $66.44. 4,227,385 shares of the company's stock were exchanged, compared to its average volume of 5,174,701. 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 twelve month low of $62.75 and a twelve month high of $87.68. The firm has a fifty day moving average of $73.87 and a two-hundred day moving average of $71.29. The stock has a market cap of $206.04 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 1.42 and a beta of 0.49.

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

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Shareholders 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 yield of 2%. This is a boost from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's dividend payout ratio is presently 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.