Parnassus Investments LLC lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN - Free Report) by 15,819.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,179,018 shares of the company's stock after buying an additional 1,171,612 shares during the period. Parnassus Investments LLC's holdings in AstraZeneca were worth $77,249,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AZN. Raymond James Financial Inc. bought a new position in shares of AstraZeneca during the 4th quarter worth approximately $158,018,000. Bank of Montreal Can boosted its holdings in AstraZeneca by 109.6% during the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company's stock worth $238,397,000 after purchasing an additional 1,605,758 shares during the last quarter. Franklin Resources Inc. grew its position in 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 in the last quarter. Erste Asset Management GmbH acquired a new stake in AstraZeneca in the 3rd quarter valued at $72,437,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of AstraZeneca by 6,835.8% during the 4th quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company's stock worth $46,389,000 after buying an additional 697,801 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on AZN. UBS Group raised 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 note on Wednesday, February 12th. They set an "overweight" rating on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, AstraZeneca presently has a consensus rating of "Buy" and a consensus price target of $89.75.
Read Our Latest Stock Analysis on AZN
AstraZeneca Trading Down 0.4 %
Shares of NASDAQ:AZN traded down $0.30 during midday trading on Tuesday, hitting $77.07. 3,596,557 shares of the stock were exchanged, compared to its average volume of 4,934,949. The business's 50-day moving average price is $72.07 and its 200 day moving average price is $72.20. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The stock has a market capitalization of $239.01 billion, a price-to-earnings ratio of 34.10, a P/E/G ratio of 1.42 and a beta of 0.41.
AstraZeneca (NASDAQ:AZN - Get Free Report) last announced 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%. Analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.
AstraZeneca Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a $1.03 dividend. This is a positive change from AstraZeneca's previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. AstraZeneca's payout ratio is currently 91.15%.
About AstraZeneca
(
Free Report)
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.
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