Parallel Advisors LLC Sells 6,072 Shares of AstraZeneca PLC (NASDAQ:AZN)

Parallel Advisors LLC cut its holdings in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,924 shares of the company's stock after selling 6,072 shares during the quarter. Parallel Advisors LLC's holdings in AstraZeneca were worth $978,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Albion Financial Group UT raised its stake in shares of AstraZeneca by 68.9% in 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 in the last quarter. Groupama Asset Managment raised its position in shares of AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company's stock valued at $42,000 after purchasing an additional 101,225 shares during the period. Versant Capital Management Inc lifted its stake in shares of AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company's stock worth $48,000 after buying an additional 707 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of AstraZeneca during the 4th quarter worth $55,000. Finally, Golden State Wealth Management LLC acquired a new position in AstraZeneca in the 4th quarter valued at $55,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Performance

Shares of NASDAQ AZN traded down $0.84 during mid-day trading on Monday, hitting $74.09. The company had a trading volume of 3,740,890 shares, compared to its average volume of 4,936,570. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The firm has a market cap of $229.77 billion, a P/E ratio of 32.78, a PEG ratio of 1.42 and a beta of 0.41. The business's 50-day simple moving average is $72.83 and its 200-day simple moving average is $71.91. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

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AstraZeneca (NASDAQ:AZN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.05 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, analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a $1.03 dividend. This represents a yield of 2%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's payout ratio is 91.15%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AZN. UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an "overweight" rating for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $89.75.

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.