Norges Bank Takes $1.07 Million Position in AstraZeneca PLC (NASDAQ:AZN)

Norges Bank bought a new stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,378 shares of the company's stock, valued at approximately $1,073,000.

Several other institutional investors also recently modified their holdings of the company. Boston Partners boosted its stake in shares of AstraZeneca by 9,985.6% in the 4th quarter. Boston Partners now owns 3,707,479 shares of the company's stock valued at $243,444,000 after purchasing an additional 3,670,719 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AstraZeneca during the fourth quarter worth about $158,018,000. Franklin Resources Inc. raised its holdings in shares of AstraZeneca by 8.7% in the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company's stock valued at $1,492,649,000 after purchasing an additional 1,522,715 shares during the last quarter. Parnassus Investments LLC increased its stake in AstraZeneca by 15,819.8% in the 4th quarter. Parnassus Investments LLC now owns 1,179,018 shares of the company's stock valued at $77,249,000 after buying an additional 1,171,612 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in AstraZeneca by 6,835.8% during the fourth quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company's stock valued at $46,389,000 after purchasing an additional 697,801 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company's stock.

AstraZeneca Stock Performance

Shares of AZN stock traded up $0.53 on Thursday, hitting $67.58. 737,111 shares of the stock were exchanged, compared to its average volume of 5,212,855. The firm has a market capitalization of $209.58 billion, a PE ratio of 29.90, a P/E/G ratio of 1.42 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The firm's 50 day moving average is $73.10 and its two-hundred day moving average is $70.72. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68.

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

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a dividend of $1.03 per share. This represents a yield of 2%. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca's dividend payout ratio (DPR) is presently 91.15%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group raised AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. BNP Paribas started coverage on shares of AstraZeneca in a research note on Tuesday. They set an "outperform" rating and a $75.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on AstraZeneca in a report on Wednesday, February 12th. They set an "overweight" rating for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $86.80.

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.