Cullen Capital Management LLC Has $60.85 Million Stake in Astrazeneca PLC (AZN)
Cullen Capital Management LLC lessened its position in Astrazeneca PLC (NYSE:AZN) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,784,866 shares of the company’s stock after selling 89,524 shares during the period. Astrazeneca PLC comprises 2.1% of Cullen Capital Management LLC’s portfolio, making the stock its 25th largest holding. Cullen Capital Management LLC owned about 0.07% of Astrazeneca PLC worth $60,846,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AZN. Bank of America Corp DE lifted its stake in shares of Astrazeneca PLC by 29.5% in the first quarter. Bank of America Corp DE now owns 45,744,976 shares of the company’s stock worth $1,424,498,000 after buying an additional 10,414,969 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Astrazeneca PLC by 476.9% in the second quarter. Fisher Asset Management LLC now owns 11,081,856 shares of the company’s stock worth $377,780,000 after buying an additional 9,160,764 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Astrazeneca PLC by 287,844.0% in the first quarter. BlackRock Inc. now owns 6,910,657 shares of the company’s stock worth $215,198,000 after buying an additional 6,908,257 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Astrazeneca PLC by 38.2% in the second quarter. Voya Investment Management LLC now owns 2,395,465 shares of the company’s stock worth $81,661,000 after buying an additional 662,481 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Astrazeneca PLC by 746.0% in the second quarter. Russell Investments Group Ltd. now owns 620,901 shares of the company’s stock worth $21,167,000 after buying an additional 547,512 shares in the last quarter. Hedge funds and other institutional investors own 14.17% of the company’s stock.
Several research analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating on shares of Astrazeneca PLC in a research note on Wednesday, August 9th. BidaskClub cut shares of Astrazeneca PLC from a “hold” rating to a “sell” rating in a report on Monday, July 24th. BMO Capital Markets began coverage on shares of Astrazeneca PLC in a report on Wednesday, September 6th. They set an “outperform” rating and a $38.00 price objective for the company. Cowen and Company reissued a “hold” rating and set a $34.00 price objective on shares of Astrazeneca PLC in a report on Friday, July 28th. Finally, Morgan Stanley cut shares of Astrazeneca PLC from an “overweight” rating to an “equal weight” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $34.35.
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Astrazeneca PLC (NYSE:AZN) last released its earnings results on Thursday, July 27th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.46. Astrazeneca PLC had a net margin of 17.80% and a return on equity of 35.90%. The business had revenue of $5.05 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year.
Astrazeneca PLC Company Profile
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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