Swedbank AB Buys 35,000 Shares of AstraZeneca PLC (NASDAQ:AZN)

Swedbank AB grew its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,705,757 shares of the company's stock after buying an additional 35,000 shares during the quarter. Swedbank AB owned 0.09% of AstraZeneca worth $210,806,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GHP Investment Advisors Inc. bought a new stake in shares of AstraZeneca during the second quarter valued at approximately $26,000. Pathway Financial Advisers LLC bought a new stake in AstraZeneca in the 1st quarter worth approximately $29,000. RFP Financial Group LLC grew its position in AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company's stock worth $33,000 after purchasing an additional 178 shares during the period. CANADA LIFE ASSURANCE Co grew its position in AstraZeneca by 40.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company's stock worth $34,000 after purchasing an additional 146 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in AstraZeneca in the 2nd quarter worth approximately $35,000. 20.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AZN. TD Cowen lifted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. Citigroup raised shares of AstraZeneca to a "strong-buy" rating in a research report on Monday, June 24th. Erste Group Bank raised shares of AstraZeneca from a "hold" rating to a "buy" rating in a research report on Wednesday, September 11th. Barclays raised shares of AstraZeneca to a "strong-buy" rating in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of AstraZeneca from a "hold" rating to a "sell" rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of "Moderate Buy" and an average price target of $89.75.

AstraZeneca Price Performance

AZN stock traded down $0.25 during mid-day trading on Tuesday, hitting $77.85. The company had a trading volume of 2,613,534 shares, compared to its average volume of 5,104,169. The company has a market capitalization of $241.37 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 1.42 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 company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $81.31 and a 200 day moving average price of $78.04.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to analysts' expectations of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 EPS. On average, research analysts anticipate that AstraZeneca PLC will post 4.07 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 9th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca's payout ratio is 48.04%.

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.