PNC Financial Services Group Inc. Cuts Stock Position in Astrazeneca Plc $AZN

PNC Financial Services Group Inc. lessened its stake in Astrazeneca Plc (NYSE:AZN) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 245,477 shares of the company’s stock after selling 5,509 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Astrazeneca were worth $43,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Luken Investment Analytics LLC increased its holdings in Astrazeneca by 4.3% in the 4th quarter. Luken Investment Analytics LLC now owns 1,564 shares of the company’s stock worth $274,000 after acquiring an additional 64 shares in the last quarter. Western Wealth Management LLC increased its holdings in Astrazeneca by 2.5% in the 4th quarter. Western Wealth Management LLC now owns 2,887 shares of the company’s stock worth $507,000 after acquiring an additional 71 shares in the last quarter. Soltis Investment Advisors LLC increased its holdings in Astrazeneca by 2.2% in the 4th quarter. Soltis Investment Advisors LLC now owns 3,470 shares of the company’s stock worth $609,000 after acquiring an additional 76 shares in the last quarter. LRI Investments LLC increased its holdings in Astrazeneca by 2.4% in the 4th quarter. LRI Investments LLC now owns 3,358 shares of the company’s stock worth $589,000 after acquiring an additional 78 shares in the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC increased its holdings in Astrazeneca by 1.9% in the 4th quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 5,336 shares of the company’s stock worth $936,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

AZN has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Astrazeneca in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Astrazeneca from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. UBS Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Astrazeneca in a report on Thursday, May 14th. Finally, DZ Bank raised shares of Astrazeneca from a “neutral” rating to a “buy” rating in a report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.33.

Astrazeneca Price Performance

Astrazeneca stock opened at $189.88 on Friday. Astrazeneca Plc has a 52-week low of $137.23 and a 52-week high of $212.71. The firm has a market capitalization of $294.49 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.54 and a beta of 0.26. The company has a fifty day simple moving average of $191.76 and a 200-day simple moving average of $182.72. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last released its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The business had revenue of $15.29 billion during the quarter, compared to analyst estimates of $14.93 billion. On average, equities analysts anticipate that Astrazeneca Plc will post 10.25 EPS for the current fiscal year.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.