NewEdge Advisors LLC Raises Position in AstraZeneca PLC (NASDAQ:AZN)

NewEdge Advisors LLC boosted its stake in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 32.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,468 shares of the company's stock after buying an additional 17,721 shares during the quarter. NewEdge Advisors LLC's holdings in AstraZeneca were worth $4,748,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT lifted its position in AstraZeneca by 68.9% during 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 during the last quarter. Versant Capital Management Inc boosted its holdings in shares of AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company's stock worth $48,000 after purchasing an additional 707 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of AstraZeneca in the 4th quarter worth approximately $55,000. Crews Bank & Trust bought a new stake in AstraZeneca in the fourth quarter valued at $55,000. Finally, Newbridge Financial Services Group Inc. bought a new position in AstraZeneca in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analysts Forecast Growth

AZN has been the subject of a number of analyst reports. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. BNP Paribas began coverage on shares of AstraZeneca in a report on Tuesday, April 15th. They issued an "outperform" rating and a $75.00 target price on the stock. Finally, UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $86.80.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded up $1.04 during midday trading on Thursday, reaching $69.55. 3,431,416 shares of the stock were exchanged, compared to its average volume of 5,220,710. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $72.51 and a two-hundred day simple moving average of $70.35. The firm has a market cap of $215.69 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.42 and a beta of 0.49.

AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) 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%. As a group, analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were paid a dividend of $1.03 per share. The ex-dividend date was Friday, February 21st. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. This represents a yield of 2%. AstraZeneca's dividend payout ratio 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.