Russell Investments Group Ltd. Increases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Russell Investments Group Ltd. raised its position in AstraZeneca PLC (NASDAQ:AZN - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 891,858 shares of the company's stock after buying an additional 35,038 shares during the quarter. Russell Investments Group Ltd.'s holdings in AstraZeneca were worth $58,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cibc World Markets Corp increased its position in AstraZeneca by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 12,901 shares of the company's stock valued at $845,000 after acquiring an additional 142 shares during the period. Diversify Wealth Management LLC increased its holdings in shares of AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company's stock valued at $295,000 after purchasing an additional 153 shares during the period. Veery Capital LLC raised its stake in shares of AstraZeneca by 4.7% during the fourth quarter. Veery Capital LLC now owns 3,503 shares of the company's stock worth $230,000 after purchasing an additional 157 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of AstraZeneca by 1.8% during the third quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company's stock worth $788,000 after purchasing an additional 175 shares during the period. Finally, Dorsey & Whitney Trust CO LLC grew its position in AstraZeneca by 0.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 35,300 shares of the company's stock valued at $2,313,000 after buying an additional 189 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on AZN. UBS Group upgraded shares of AstraZeneca from a "neutral" rating to a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an "overweight" rating for the company. One research 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. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $89.75.

AstraZeneca Price Performance

Shares of NASDAQ AZN traded up $1.42 during trading on Friday, hitting $66.29. 5,761,317 shares of the company were exchanged, compared to its average volume of 5,262,431. 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 1 year low of $61.24 and a 1 year high of $87.68. The company has a market cap of $205.58 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.42 and a beta of 0.49. The firm's fifty day moving average price is $73.35 and its 200 day moving average price is $70.88.

AstraZeneca (NASDAQ:AZN - Get Free Report) last released 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%. On average, sell-side analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The company 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 of this dividend was Friday, February 21st. This represents a dividend yield of 2%. This is a boost from AstraZeneca's previous semi-annual dividend of $0.49. AstraZeneca's dividend payout ratio is currently 91.15%.

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.