First Trust Advisors LP Sells 103,714 Shares of AstraZeneca PLC $AZN

First Trust Advisors LP reduced its holdings in AstraZeneca PLC (NASDAQ:AZN) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,005,750 shares of the company’s stock after selling 103,714 shares during the quarter. First Trust Advisors LP’s holdings in AstraZeneca were worth $77,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fayez Sarofim & Co grew its holdings in shares of AstraZeneca by 173.4% during the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock worth $261,764,000 after purchasing an additional 2,376,032 shares in the last quarter. Raymond James Financial Inc. raised its stake in AstraZeneca by 64.8% in the second quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company’s stock valued at $264,373,000 after purchasing an additional 1,487,662 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in AstraZeneca during the second quarter valued at approximately $96,936,000. JPMorgan Chase & Co. grew its stake in AstraZeneca by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,824,072 shares of the company’s stock worth $370,103,000 after buying an additional 1,048,738 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in AstraZeneca by 68.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,899,502 shares of the company’s stock worth $145,730,000 after buying an additional 770,417 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZN shares. HSBC restated a “buy” rating and set a $108.00 price objective on shares of AstraZeneca in a research report on Wednesday, December 10th. Barclays reissued an “overweight” rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of AstraZeneca in a research note on Friday, February 6th. Citigroup initiated coverage on AstraZeneca in a report on Tuesday, January 27th. They issued a “buy” rating for the company. Finally, TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Nine research 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, AstraZeneca presently has a consensus rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $195.00 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. The stock has a market cap of $302.42 billion, a PE ratio of 64.78, a PEG ratio of 1.59 and a beta of 0.32. The company’s fifty day moving average is $148.76 and its 200 day moving average is $107.42. AstraZeneca PLC has a 52 week low of $122.48 and a 52 week high of $212.71.

AstraZeneca Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be issued a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a dividend yield of 156.0%. AstraZeneca’s payout ratio is currently 66.26%.

AstraZeneca Company Profile

AstraZeneca is a global, science-led 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’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.