Thoroughbred Financial Services LLC Sells 2,539 Shares of AstraZeneca PLC (NASDAQ:AZN)

Thoroughbred Financial Services LLC reduced its holdings in AstraZeneca PLC (NASDAQ:AZN) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,640 shares of the company’s stock after selling 2,539 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in AstraZeneca were worth $1,679,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Arete Wealth Advisors LLC raised its stake in AstraZeneca by 98.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 8,474 shares of the company’s stock worth $555,000 after buying an additional 4,200 shares in the last quarter. World Investment Advisors grew its holdings in shares of AstraZeneca by 3.6% during the 4th quarter. World Investment Advisors now owns 8,564 shares of the company’s stock worth $561,000 after acquiring an additional 297 shares during the period. Martin Investment Management LLC raised its position in shares of AstraZeneca by 8.5% in the 4th quarter. Martin Investment Management LLC now owns 308,489 shares of the company’s stock worth $20,575,000 after acquiring an additional 24,285 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in shares of AstraZeneca in the 4th quarter valued at approximately $232,000. Finally, Cinctive Capital Management LP boosted its position in shares of AstraZeneca by 88.4% during the fourth quarter. Cinctive Capital Management LP now owns 84,653 shares of the company’s stock valued at $5,546,000 after purchasing an additional 39,718 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Down 7.4 %

NASDAQ:AZN opened at $68.46 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The firm has a market cap of $212.31 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.42 and a beta of 0.49. AstraZeneca PLC has a fifty-two week low of $62.75 and a fifty-two week high of $87.68. The firm has a 50-day simple moving average of $73.96 and a two-hundred day simple moving average of $71.48.

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

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is 91.15%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $89.75.

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.