Jacobi Capital Management LLC Sells 759 Shares of AstraZeneca PLC $AZN

Jacobi Capital Management LLC reduced its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 7.5% in the 1st quarter, Holdings Channel reports. The firm owned 9,301 shares of the company’s stock after selling 759 shares during the quarter. Jacobi Capital Management LLC’s holdings in AstraZeneca were worth $684,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Confluence Investment Management LLC bought a new position in AstraZeneca during the 1st quarter worth $27,000. Larson Financial Group LLC raised its position in AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 289 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in AstraZeneca during the 4th quarter worth $29,000. FNY Investment Advisers LLC acquired a new stake in AstraZeneca during the 1st quarter worth about $29,000. Finally, Costello Asset Management INC acquired a new stake in AstraZeneca during the 1st quarter worth about $29,000. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Performance

Shares of AZN opened at $79.56 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The stock has a 50-day moving average of $75.95 and a 200-day moving average of $72.97. The company has a market cap of $246.74 billion, a PE ratio of 29.91, a P/E/G ratio of 1.49 and a beta of 0.37. AstraZeneca PLC has a one year low of $61.24 and a one year high of $82.41.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $1.24 EPS. On average, equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid a $0.505 dividend. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s dividend payout ratio (DPR) is currently 37.97%.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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.