Cidel Asset Management Inc. Grows Position in AstraZeneca PLC (NASDAQ:AZN)

Cidel Asset Management Inc. increased its position in AstraZeneca PLC (NASDAQ:AZN) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 676,203 shares of the company’s stock after purchasing an additional 13,901 shares during the quarter. AstraZeneca makes up about 1.6% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Cidel Asset Management Inc.’s holdings in AstraZeneca were worth $40,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AZN. abrdn plc increased its position in AstraZeneca by 3.1% during the 2nd quarter. abrdn plc now owns 371,255 shares of the company’s stock valued at $22,239,000 after buying an additional 11,300 shares in the last quarter. Financial Architects Inc bought a new position in AstraZeneca during the 2nd quarter valued at approximately $208,000. Mercer Global Advisors Inc. ADV increased its position in AstraZeneca by 18.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 46,129 shares of the company’s stock valued at $2,763,000 after buying an additional 7,289 shares in the last quarter. Mitchell Capital Management Co. increased its position in AstraZeneca by 8.2% during the 2nd quarter. Mitchell Capital Management Co. now owns 16,241 shares of the company’s stock valued at $973,000 after buying an additional 1,236 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in AstraZeneca during the 2nd quarter valued at approximately $1,713,000. Institutional investors own 13.88% of the company’s stock.

NASDAQ AZN traded up $0.48 on Wednesday, hitting $56.44. 245,649 shares of the company traded hands, compared to its average volume of 9,959,448. The business’s 50 day moving average price is $58.04 and its 200-day moving average price is $55.19. AstraZeneca PLC has a 52-week low of $46.48 and a 52-week high of $60.93. The company has a market capitalization of $174.86 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 1.21 and a beta of 0.53. The company has a current ratio of 1.23, a quick ratio of 1.01 and a debt-to-equity ratio of 1.54.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Wednesday, July 28th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. AstraZeneca had a return on equity of 40.02% and a net margin of 12.77%. The business had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $7.79 billion. As a group, sell-side analysts predict that AstraZeneca PLC will post 2.64 earnings per share for the current year.

The company also recently announced a semi-annual dividend, which was paid on Monday, September 13th. Investors of record on Friday, August 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a dividend yield of 2.4%. AstraZeneca’s dividend payout ratio is currently 68.16%.

A number of analysts have commented on AZN shares. Citigroup reissued a “buy” rating on shares of AstraZeneca in a report on Wednesday, July 21st. Morgan Stanley initiated coverage on AstraZeneca in a report on Monday, August 9th. They issued an “overweight” rating for the company. JPMorgan Chase & Co. initiated coverage on AstraZeneca in a report on Thursday, August 12th. They issued an “overweight” rating for the company. SVB Leerink lifted their price objective on AstraZeneca from $63.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, August 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of AstraZeneca in a report on Thursday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, AstraZeneca currently has a consensus rating of “Buy” and an average price target of $122.00.

About AstraZeneca

AstraZeneca Plc is a holding company, which engages in the research, development, and manufacture of pharmaceutical products. Its pipeline are used for the following therapy areas: oncology, cardiovascular, renal, metabolism, and respiratory. The company was founded on June 17, 1992 and is headquartered in Cambridge, the United Kingdom.

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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