LGT Fund Management Co Ltd. Raises Stock Position in AstraZeneca PLC (NASDAQ:AZN)

LGT Fund Management Co Ltd. lifted its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 44,860 shares of the company's stock after buying an additional 17,700 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in AstraZeneca were worth $2,939,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Swedbank AB raised its stake in AstraZeneca by 1.3% in the 3rd quarter. Swedbank AB now owns 2,705,757 shares of the company's stock worth $210,806,000 after purchasing an additional 35,000 shares in the last quarter. US Bancorp DE raised its stake in AstraZeneca by 6.9% in the 3rd quarter. US Bancorp DE now owns 232,419 shares of the company's stock worth $18,108,000 after purchasing an additional 14,965 shares in the last quarter. Focus Financial Network Inc. raised its stake in AstraZeneca by 9.1% in the 3rd quarter. Focus Financial Network Inc. now owns 5,295 shares of the company's stock worth $412,000 after purchasing an additional 441 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in AstraZeneca by 7.4% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,893 shares of the company's stock worth $225,000 after purchasing an additional 199 shares in the last quarter. Finally, Optas LLC raised its stake in AstraZeneca by 173.5% in the 3rd quarter. Optas LLC now owns 15,570 shares of the company's stock worth $1,213,000 after purchasing an additional 9,877 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an "overweight" rating for the company. Finally, UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $89.75.

AstraZeneca Stock Up 0.9 %

Shares of NASDAQ AZN traded up $0.71 during trading on Wednesday, hitting $77.96. The stock had a trading volume of 4,909,487 shares, compared to its average volume of 5,656,809. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The company has a market capitalization of $241.77 billion, a PE ratio of 34.50, a PEG ratio of 1.42 and a beta of 0.41. The firm has a fifty day moving average of $70.39 and a two-hundred day moving average of $72.84.

AstraZeneca (NASDAQ:AZN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, equities research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a $1.03 dividend. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. The ex-dividend date is Friday, February 21st. AstraZeneca's dividend payout ratio (DPR) is 91.15%.

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.