D.B. Root & Company LLC Cuts Holdings in AstraZeneca PLC (NASDAQ:AZN)

D.B. Root & Company LLC reduced its position in AstraZeneca PLC (NASDAQ:AZN) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,574 shares of the company’s stock after selling 258 shares during the quarter. D.B. Root & Company LLC’s holdings in AstraZeneca were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Able Wealth Management LLC acquired a new stake in AstraZeneca in the 4th quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca in the 1st quarter valued at $29,000. Pin Oak Investment Advisors Inc. increased its holdings in AstraZeneca by 468.4% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. RFP Financial Group LLC increased its holdings in AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in AstraZeneca in the 4th quarter valued at $34,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AZN. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus raised their target price on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BMO Capital Markets raised their target price on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group assumed coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 target price for the company. Three research 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 stock. According to MarketBeat, AstraZeneca has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.6 %

NASDAQ:AZN traded up $1.33 during mid-day trading on Monday, reaching $82.52. The stock had a trading volume of 9,202,411 shares, compared to its average volume of 5,370,150. The company has a market capitalization of $255.85 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.45. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $82.91. The stock’s 50 day simple moving average is $79.07 and its two-hundred day simple moving average is $72.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.62 billion. During the same quarter last year, the company posted $1.08 earnings per share. AstraZeneca’s revenue was up 9.1% on a year-over-year basis. Equities analysts anticipate that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be issued a $0.49 dividend. The ex-dividend date is Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is currently 48.04%.

About AstraZeneca

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.