Channel Wealth LLC Buys 2,318 Shares of AstraZeneca PLC (NASDAQ:AZN)

Channel Wealth LLC boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,493 shares of the company’s stock after acquiring an additional 2,318 shares during the period. Channel Wealth LLC’s holdings in AstraZeneca were worth $3,123,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AZN. Bank of America Corp DE grew its stake in shares of AstraZeneca by 189.3% in the 4th quarter. Bank of America Corp DE now owns 24,026,966 shares of the company’s stock valued at $1,574,247,000 after purchasing an additional 15,722,197 shares during the period. Marshall Wace LLP acquired a new stake in AstraZeneca in the 4th quarter valued at $254,018,000. Boston Partners grew its position in AstraZeneca by 9,985.6% in the fourth quarter. Boston Partners now owns 3,707,479 shares of the company’s stock valued at $243,444,000 after acquiring an additional 3,670,719 shares during the period. Raymond James Financial Inc. acquired a new position in AstraZeneca during the fourth quarter worth $158,018,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of AstraZeneca by 220.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,027,511 shares of the company’s stock valued at $198,363,000 after acquiring an additional 2,083,645 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Trading Up 1.6%

AZN stock opened at $73.00 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68. The company has a market cap of $226.39 billion, a P/E ratio of 32.30, a PEG ratio of 1.42 and a beta of 0.38. The business has a fifty day moving average of $69.33 and a 200-day moving average of $69.83.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The firm had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $13.71 billion. AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.06 EPS. As a group, equities research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZN. UBS Group upgraded shares of 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 report on Wednesday, February 12th. They set an “overweight” rating for the company. Finally, BNP Paribas initiated coverage on shares of AstraZeneca in a research note on Tuesday, April 15th. They issued an “outperform” rating and a $75.00 target price for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $85.00.

AstraZeneca Company 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.