NorthCrest Asset Manangement LLC Trims Stock Position in AstraZeneca PLC (NASDAQ:AZN)

NorthCrest Asset Manangement LLC reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,774 shares of the company’s stock after selling 370 shares during the period. NorthCrest Asset Manangement LLC’s holdings in AstraZeneca were worth $1,854,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in AstraZeneca during the 4th quarter worth approximately $10,395,000. Financial Counselors Inc. raised its stake in shares of AstraZeneca by 5.6% during the fourth quarter. Financial Counselors Inc. now owns 7,520 shares of the company’s stock valued at $506,000 after purchasing an additional 397 shares during the period. Cerity Partners LLC lifted its position in shares of AstraZeneca by 113.0% during the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock worth $6,444,000 after purchasing an additional 50,750 shares in the last quarter. Sapient Capital LLC acquired a new stake in AstraZeneca during the 4th quarter valued at $539,000. Finally, NewEdge Wealth LLC increased its stake in AstraZeneca by 8.7% during the 4th quarter. NewEdge Wealth LLC now owns 31,564 shares of the company’s stock worth $2,126,000 after buying an additional 2,530 shares during the period. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

Shares of AZN stock traded down $0.09 during mid-day trading on Wednesday, hitting $83.28. 1,744,645 shares of the stock traded hands, compared to its average volume of 5,356,393. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89. The firm has a market cap of $258.21 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 1.53 and a beta of 0.45. The company’s 50-day simple moving average is $79.14 and its 200-day simple moving average is $73.07. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $83.64.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date is Friday, August 9th. AstraZeneca’s dividend payout ratio is presently 48.04%.

Wall Street Analyst Weigh In

AZN has been the subject of a number of analyst reports. TD Cowen upped their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday. Argus increased their target price on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. BMO Capital Markets increased their price target on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Barclays upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca 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.