Pitcairn Co. Sells 3,479 Shares of AstraZeneca PLC (NASDAQ:AZN)

Pitcairn Co. lessened its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,296 shares of the company's stock after selling 3,479 shares during the period. Pitcairn Co.'s holdings in AstraZeneca were worth $1,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Albion Financial Group UT lifted its position in AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company's stock worth $40,000 after buying an additional 248 shares during the last quarter. Groupama Asset Managment raised its stake in shares of AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company's stock worth $42,000 after acquiring an additional 101,225 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of AstraZeneca by 2,618.5% in the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company's stock worth $48,000 after acquiring an additional 707 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of AstraZeneca in the 4th quarter valued at $55,000. Finally, Golden State Wealth Management LLC bought a new position in shares of AstraZeneca during the 4th quarter valued at $55,000. Institutional investors own 20.35% of the company's stock.

AstraZeneca Trading Down 4.9 %

Shares of NASDAQ:AZN traded down $3.17 during midday trading on Wednesday, hitting $61.74. 5,571,308 shares of the stock traded hands, compared to its average volume of 5,222,766. 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 business's 50 day moving average is $73.67 and its two-hundred day moving average is $71.15. The stock has a market capitalization of $191.45 billion, a PE ratio of 27.32, a P/E/G ratio of 1.42 and a beta of 0.49. AstraZeneca PLC has a one year low of $61.28 and a one year high of $87.68.

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AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly earnings results 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 net margin of 13.01% and a return on equity of 32.23%. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current 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 issued a $1.03 dividend. The ex-dividend date was Friday, February 21st. This represents a yield of 2%. This is a boost from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's payout ratio is 91.15%.

Analysts Set New Price Targets

Several research firms have weighed in on AZN. UBS Group raised shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley began coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca presently has an average rating of "Buy" and an average price target of $89.75.

AstraZeneca Company 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.