Pittenger & Anderson Inc. Raises Position in AstraZeneca PLC (NASDAQ:AZN)

Pittenger & Anderson Inc. lifted its stake in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,741 shares of the company's stock after acquiring an additional 7,364 shares during the period. Pittenger & Anderson Inc.'s holdings in AstraZeneca were worth $3,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Martin Investment Management LLC raised its holdings in shares of AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company's stock valued at $22,571,000 after acquiring an additional 7,615 shares in the last quarter. Nordea Investment Management AB bought a new position in AstraZeneca during the 4th quarter worth approximately $754,000. Diversify Wealth Management LLC grew its position in shares of AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company's stock worth $295,000 after buying an additional 153 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of AstraZeneca by 25.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company's stock worth $622,000 after buying an additional 1,949 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its position in shares of AstraZeneca by 46.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company's stock worth $3,398,000 after buying an additional 13,860 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company's stock.

Wall Street Analyst Weigh In

AZN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. UBS Group upgraded AstraZeneca from a "neutral" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley assumed 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 issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca presently has an average rating of "Buy" and an average price target of $89.75.

AstraZeneca Stock Performance

Shares of AZN traded up $0.75 during trading hours on Thursday, hitting $74.56. The stock had a trading volume of 3,335,833 shares, compared to its average volume of 5,280,650. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The firm has a market capitalization of $231.22 billion, a PE ratio of 32.99, a PEG ratio of 1.44 and a beta of 0.46. The stock has a fifty day moving average price of $68.60 and a 200 day moving average price of $73.30.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released its quarterly 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 net margin of 13.01% and a return on equity of 32.23%. Analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a $1.03 dividend. This represents a dividend yield of 2%. This is an increase from AstraZeneca's previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. AstraZeneca's payout ratio is presently 43.36%.

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.