Astrazeneca PLC (AZN) Position Trimmed by Frontier Wealth Management LLC
Frontier Wealth Management LLC reduced its position in Astrazeneca PLC (NYSE:AZN) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 34,572 shares of the company’s stock after selling 3,900 shares during the period. Frontier Wealth Management LLC’s holdings in Astrazeneca PLC were worth $1,179,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. acquired a new stake in shares of Astrazeneca PLC in the 1st quarter valued at $107,000. Meeder Asset Management Inc. acquired a new stake in shares of Astrazeneca PLC in the 2nd quarter valued at $105,000. Tower Research Capital LLC TRC increased its stake in shares of Astrazeneca PLC by 3,782.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company’s stock valued at $121,000 after buying an additional 3,782 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Astrazeneca PLC by 71.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,252 shares of the company’s stock valued at $145,000 after buying an additional 1,769 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Astrazeneca PLC by 27.1% in the 1st quarter. Parallel Advisors LLC now owns 4,526 shares of the company’s stock valued at $138,000 after buying an additional 964 shares during the period. 14.17% of the stock is owned by institutional investors.
A number of brokerages recently commented on AZN. Investec raised Astrazeneca PLC from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies reiterated a “buy” rating on shares of Astrazeneca PLC in a report on Wednesday, August 9th. Argus reiterated a “buy” rating and set a $35.00 target price on shares of Astrazeneca PLC in a report on Friday, September 1st. Natixis upgraded Astrazeneca PLC from a “neutral” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of Astrazeneca PLC in a report on Friday, September 22nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.20.
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Astrazeneca PLC (NYSE AZN) traded up 0.81% during midday trading on Thursday, reaching $33.58. The company’s stock had a trading volume of 1,419,267 shares. Astrazeneca PLC has a 12 month low of $25.55 and a 12 month high of $35.60. The stock has a 50-day moving average price of $30.33 and a 200 day moving average price of $31.81. The company has a market cap of $85.02 billion, a PE ratio of 22.03 and a beta of 0.74.
Astrazeneca PLC (NYSE:AZN) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.46. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $5.04 billion. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. Analysts expect that Astrazeneca PLC will post $1.91 earnings per share for the current fiscal year.
The company also recently declared a None dividend, which was paid on Monday, September 11th. Stockholders of record on Friday, August 11th were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, August 9th. This represents a dividend yield of 2.98%. Astrazeneca PLC’s dividend payout ratio (DPR) is currently 44.92%.
About Astrazeneca PLC
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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