Bank of Stockton Takes $217,000 Position in AstraZeneca PLC (NASDAQ:AZN)

Bank of Stockton bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,786 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Able Wealth Management LLC acquired a new position in AstraZeneca in the fourth quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in AstraZeneca in the 1st quarter valued at about $29,000. Pin Oak Investment Advisors Inc. raised its stake in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after acquiring an additional 370 shares during the last quarter. RFP Financial Group LLC lifted its position in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the period. Finally, Northwest Financial Advisors purchased a new position in shares of AstraZeneca in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Up 0.9 %

Shares of NASDAQ AZN opened at $86.66 on Friday. The stock has a market capitalization of $268.69 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.45. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $86.88. The firm has a 50-day moving average price of $79.96 and a 200 day moving average price of $74.06. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. Equities research analysts anticipate that AstraZeneca PLC will post 4.06 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be given a dividend of $0.49 per share. This represents a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s dividend payout ratio is presently 48.04%.

Wall Street Analysts Forecast Growth

AZN has been the subject of several analyst reports. TD Cowen upped their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus upped their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. The Goldman Sachs Group initiated coverage on shares of AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research 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 given a strong buy rating to the company. According to MarketBeat.com, AstraZeneca has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Profile

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.