Legal Advantage Investments Inc. Reduces Position in AstraZeneca PLC $AZN

Legal Advantage Investments Inc. trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,550 shares of the company’s stock after selling 200 shares during the quarter. Legal Advantage Investments Inc.’s holdings in AstraZeneca were worth $248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lindbrook Capital LLC increased its position in shares of AstraZeneca by 1.9% during the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company’s stock worth $557,000 after acquiring an additional 141 shares during the last quarter. Principal Securities Inc. increased its position in shares of AstraZeneca by 0.5% during the first quarter. Principal Securities Inc. now owns 28,053 shares of the company’s stock worth $2,062,000 after acquiring an additional 142 shares during the last quarter. Sage Mountain Advisors LLC increased its position in shares of AstraZeneca by 3.4% during the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company’s stock worth $329,000 after acquiring an additional 147 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after acquiring an additional 149 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of AstraZeneca by 0.7% during the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company’s stock worth $1,743,000 after acquiring an additional 155 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Down 0.6%

Shares of AstraZeneca stock opened at $84.53 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a market cap of $262.16 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.55 and a beta of 0.36. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $86.57. The business has a 50-day moving average price of $79.18 and a 200 day moving average price of $73.46.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. During the same period in the previous year, the company earned $1.24 earnings per share. AstraZeneca’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analysts Set New Price Targets

AZN has been the topic of a number of analyst reports. Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.