3,428 Shares in AstraZeneca PLC (NASDAQ:AZN) Acquired by E&G Advisors LP

E&G Advisors LP purchased a new stake in AstraZeneca PLC (NASDAQ:AZN) during the first quarter, HoldingsChannel.com reports. The firm purchased 3,428 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors also recently made changes to their positions in AZN. Cerity Partners LLC increased its position in shares of AstraZeneca by 113.0% in the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock worth $6,444,000 after acquiring an additional 50,750 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in AstraZeneca by 43.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock valued at $10,979,000 after purchasing an additional 49,541 shares in the last quarter. Assetmark Inc. lifted its stake in shares of AstraZeneca by 11.2% during the fourth quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock worth $10,433,000 after purchasing an additional 15,642 shares in the last quarter. Manning & Napier Group LLC boosted its position in shares of AstraZeneca by 281.2% in the fourth quarter. Manning & Napier Group LLC now owns 2,779,212 shares of the company’s stock worth $187,180,000 after buying an additional 2,050,064 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of AstraZeneca in the fourth quarter valued at about $10,395,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of AZN traded down $0.19 during mid-day trading on Wednesday, reaching $76.80. 2,377,499 shares of the company’s stock traded hands, compared to its average volume of 5,524,869. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The business’s 50-day moving average price is $77.80 and its 200-day moving average price is $70.59. The stock has a market capitalization of $238.12 billion, a P/E ratio of 37.74, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $80.86.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.08. AstraZeneca had a return on equity of 30.42% and a net margin of 13.30%. The firm had revenue of $12.68 billion for the quarter, compared to the consensus estimate of $11.92 billion. Equities analysts predict that AstraZeneca PLC will post 4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AZN shares. Argus raised their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. BMO Capital Markets lifted their target price on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. The Goldman Sachs Group initiated coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Finally, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Three investment 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 company. According to MarketBeat, AstraZeneca presently has an average rating of “Buy” and a consensus target price of $88.00.

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.