Hartford Funds Management Co LLC Buys 2,234 Shares of AstraZeneca PLC (NASDAQ:AZN)

Hartford Funds Management Co LLC grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 38.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,023 shares of the company’s stock after purchasing an additional 2,234 shares during the period. Hartford Funds Management Co LLC’s holdings in AstraZeneca were worth $540,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Clearstead Advisors LLC raised its stake in AstraZeneca by 15.5% during the third quarter. Clearstead Advisors LLC now owns 1,209 shares of the company’s stock worth $82,000 after buying an additional 162 shares during the last quarter. Bryn Mawr Capital Management LLC increased its stake in AstraZeneca by 0.3% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 61,866 shares of the company’s stock valued at $4,167,000 after purchasing an additional 164 shares in the last quarter. Center for Financial Planning Inc. increased its stake in AstraZeneca by 32.9% in the third quarter. Center for Financial Planning Inc. now owns 671 shares of the company’s stock valued at $45,000 after purchasing an additional 166 shares in the last quarter. Gradient Investments LLC increased its stake in AstraZeneca by 2.4% in the third quarter. Gradient Investments LLC now owns 7,259 shares of the company’s stock valued at $492,000 after purchasing an additional 169 shares in the last quarter. Finally, Drive Wealth Management LLC increased its stake in AstraZeneca by 4.5% in the fourth quarter. Drive Wealth Management LLC now owns 3,911 shares of the company’s stock valued at $263,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

AZN traded up $0.40 during midday trading on Tuesday, reaching $75.88. The company had a trading volume of 8,547,254 shares, compared to its average volume of 6,273,296. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a market cap of $235.26 billion, a PE ratio of 37.20, a P/E/G ratio of 1.37 and a beta of 0.50. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $76.58. The business has a 50-day moving average price of $67.71 and a two-hundred day moving average price of $66.16.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.01). AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same period last year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that AstraZeneca PLC will post 4.01 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. This represents a yield of 2.3%. The ex-dividend date was Thursday, February 22nd. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s dividend payout ratio is 94.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AZN shares. Morgan Stanley began coverage on shares of AstraZeneca in a research note on Tuesday, January 23rd. They issued an “overweight” rating for the company. Jefferies Financial Group cut shares of AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.00.

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.