Scissortail Wealth Management LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Scissortail Wealth Management LLC purchased a new stake in AstraZeneca PLC (NASDAQ:AZN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,900 shares of the company’s stock, valued at approximately $598,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of AstraZeneca in the second quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new position in AstraZeneca during the fourth quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new position in AstraZeneca during the fourth quarter worth approximately $26,000. Parkside Financial Bank & Trust increased its position in AstraZeneca by 4,875.0% during the first quarter. Parkside Financial Bank & Trust now owns 398 shares of the company’s stock worth $26,000 after buying an additional 390 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Price Performance

NASDAQ AZN traded up $0.16 on Wednesday, hitting $68.43. 493,757 shares of the company’s stock were exchanged, compared to its average volume of 6,160,067. The stock has a 50-day moving average of $65.98 and a 200-day moving average of $65.83. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $76.56. The stock has a market cap of $212.16 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 1.26 and a beta of 0.50.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that AstraZeneca PLC will post 4.02 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a $0.965 dividend. This represents a yield of 2.3%. This is an increase from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date of this dividend was Thursday, February 22nd. AstraZeneca’s dividend payout ratio is presently 100.52%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AZN shares. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group downgraded AstraZeneca from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Morgan Stanley began coverage on AstraZeneca in a research report on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.00.

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.