AGF Management Ltd. Cuts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

by · The Markets Daily

AGF Management Ltd. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN – Free Report) by 99.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,246 shares of the company’s stock after selling 1,336,869 shares during the quarter. AGF Management Ltd.’s holdings in AstraZeneca were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Albion Financial Group UT grew its holdings in AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after purchasing an additional 248 shares during the period. Groupama Asset Managment lifted its holdings in AstraZeneca by 22.9% during 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 last quarter. Versant Capital Management Inc boosted its position in AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after purchasing an additional 707 shares during the period. Crews Bank & Trust purchased a new position in shares of AstraZeneca in the fourth quarter worth about $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter valued at approximately $55,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AZN shares. Morgan Stanley initiated coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and an average target price of $89.75.

Get Our Latest Stock Analysis on AstraZeneca

AstraZeneca Stock Up 1.4 %

Shares of NASDAQ:AZN opened at $77.60 on Friday. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The stock’s 50-day moving average is $71.86 and its 200 day moving average is $72.38. The company has a market cap of $240.65 billion, a PE ratio of 34.34, a P/E/G ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN – Get Free Report) last announced 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 return on equity of 32.23% and a net margin of 13.01%. Sell-side analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be paid a $1.03 dividend. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio is presently 91.15%.

AstraZeneca Profile

(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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