Fifth Third Bancorp Decreases Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Fifth Third Bancorp cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 66.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,538 shares of the company's stock after selling 11,164 shares during the period. Fifth Third Bancorp's holdings in AstraZeneca were worth $363,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AZN. Goelzer Investment Management Inc. increased its holdings in shares of AstraZeneca by 37.9% in the 4th quarter. Goelzer Investment Management Inc. now owns 83,689 shares of the company's stock worth $5,483,000 after purchasing an additional 22,983 shares in the last quarter. Gradient Investments LLC increased its holdings in AstraZeneca by 2.8% during the fourth quarter. Gradient Investments LLC now owns 7,272 shares of the company's stock valued at $476,000 after buying an additional 201 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in AstraZeneca in the fourth quarter worth approximately $362,000. Exchange Traded Concepts LLC boosted its stake in shares of AstraZeneca by 8.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 26,979 shares of the company's stock worth $1,768,000 after acquiring an additional 2,012 shares during the last quarter. Finally, Encompass More Asset Management purchased a new stake in shares of AstraZeneca in the 4th quarter worth $314,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Stock Up 1.4 %

Shares of AZN opened at $71.24 on Friday. The firm has a market cap of $220.92 billion, a P/E ratio of 34.09, a PEG ratio of 1.17 and a beta of 0.46. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68. The stock's 50 day moving average is $66.83 and its two-hundred day moving average is $73.99. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. The business had revenue of $13.57 billion during the quarter, compared to analysts' expectations of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The company's quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.87 earnings per share. Analysts predict that AstraZeneca PLC will post 4.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AZN shares. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. UBS Group upgraded AstraZeneca from a "sell" rating to a "neutral" rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has an average rating of "Buy" and an average price target 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.