Jacobi Capital Management LLC cut its holdings in AstraZeneca PLC (NASDAQ:AZN – Get Rating) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,984 shares of the company’s stock after selling 406 shares during the period. Jacobi Capital Management LLC’s holdings in AstraZeneca were worth $463,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Horan Securities Inc. purchased a new position in AstraZeneca in the 4th quarter valued at about $26,000. Baltimore Washington Financial Advisors Inc. purchased a new position in AstraZeneca in the 4th quarter valued at about $27,000. Allegheny Financial Group LTD purchased a new position in AstraZeneca in the 4th quarter valued at about $28,000. Fairfield Bush & CO. purchased a new position in AstraZeneca in the 1st quarter valued at about $28,000. Finally, Quent Capital LLC purchased a new position in AstraZeneca in the 4th quarter valued at about $31,000. 20.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of AstraZeneca from GBX 9,000 ($110.28) to £110 ($134.79) in a report on Friday, April 8th. Danske assumed coverage on shares of AstraZeneca in a report on Tuesday, May 24th. They set a “buy” rating on the stock. Citigroup increased their price objective on shares of AstraZeneca from £105 ($128.66) to £130 ($159.29) in a report on Tuesday, July 12th. UBS Group lowered shares of AstraZeneca from a “buy” rating to a “neutral” rating in a report on Tuesday, June 14th. Finally, Morgan Stanley increased their price objective on shares of AstraZeneca from £102 ($124.98) to £111 ($136.01) in a report on Thursday, April 21st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus price target of $8,840.50.
AstraZeneca Stock Down 0.4 %
AstraZeneca Cuts Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.465 per share. This represents a dividend yield of 2.2%. The ex-dividend date is Thursday, August 11th. AstraZeneca’s dividend payout ratio (DPR) is currently -470.72%.
AstraZeneca Company Profile
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.
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