Summit Financial LLC Cuts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Summit Financial LLC reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,642 shares of the company’s stock after selling 198 shares during the quarter. Summit Financial LLC’s holdings in AstraZeneca were worth $632,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CreativeOne Wealth LLC acquired a new stake in AstraZeneca in the 3rd quarter valued at $211,000. Benjamin Edwards Inc. grew its position in shares of AstraZeneca by 349.0% in the third quarter. Benjamin Edwards Inc. now owns 59,871 shares of the company’s stock valued at $4,665,000 after purchasing an additional 46,537 shares during the period. Centiva Capital LP acquired a new stake in shares of AstraZeneca in the third quarter valued at about $588,000. Hilltop Holdings Inc. purchased a new stake in shares of AstraZeneca during the third quarter worth about $730,000. Finally, Janus Henderson Group PLC raised its position in shares of AstraZeneca by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 1,669,554 shares of the company’s stock worth $130,077,000 after purchasing an additional 85,502 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZN has been the subject of several research reports. Morgan Stanley assumed coverage on AstraZeneca in a research note on Wednesday, February 12th. They set an “overweight” rating for the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $72.22 on Thursday. The business’s 50 day moving average price is $73.86 and its 200 day moving average price is $71.54. The company has a market cap of $223.97 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. AstraZeneca PLC has a one year low of $62.75 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. On average, research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a dividend of $1.03 per share. This represents a dividend yield of 2%. The ex-dividend date was Friday, February 21st. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is presently 91.15%.

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.