Meitav Investment House Ltd. Buys 205,000 Shares of AstraZeneca PLC (NASDAQ:AZN)

Meitav Investment House Ltd. raised its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 616.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,270 shares of the company's stock after purchasing an additional 205,000 shares during the period. Meitav Investment House Ltd.'s holdings in AstraZeneca were worth $15,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of AstraZeneca during the 3rd quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in shares of AstraZeneca during the 3rd quarter valued at about $45,000. Albion Financial Group UT increased its holdings in shares of AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company's stock valued at $40,000 after acquiring an additional 248 shares during the last quarter. Hollencrest Capital Management increased its holdings in shares of AstraZeneca by 38.4% during the 3rd quarter. Hollencrest Capital Management now owns 692 shares of the company's stock valued at $54,000 after acquiring an additional 192 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of AstraZeneca by 2,618.5% during the 4th 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 last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AZN. 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 report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on AstraZeneca in a report on Wednesday, February 12th. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $89.75.

AstraZeneca Stock Performance

AZN traded down $0.36 during midday trading on Friday, reaching $74.20. The company's stock had a trading volume of 3,614,801 shares, compared to its average volume of 5,231,667. The stock has a market cap of $230.10 billion, a P/E ratio of 32.83, a PEG ratio of 1.42 and a beta of 0.46. The company has a fifty day simple moving average of $68.60 and a 200 day simple moving average of $73.30. The company has a current ratio of 0.93, a quick ratio of 0.74 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.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data 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 return on equity of 32.23% and a net margin of 13.01%. Research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current 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 issued a dividend of $1.03 per share. This represents a dividend yield of 2%. The ex-dividend date is Friday, February 21st. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's dividend payout ratio (DPR) 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.