AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Veracity Capital LLC

Veracity Capital LLC decreased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,669 shares of the company’s stock after selling 305 shares during the period. Veracity Capital LLC’s holdings in AstraZeneca were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AZN. Able Wealth Management LLC purchased a new position in AstraZeneca in the 4th quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca during the 1st quarter worth $29,000. Pin Oak Investment Advisors Inc. raised its stake in AstraZeneca by 468.4% during the 4th quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after acquiring an additional 370 shares in the last quarter. RFP Financial Group LLC raised its stake in AstraZeneca by 56.3% during the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares in the last quarter. Finally, Northwest Financial Advisors acquired a new stake in AstraZeneca during the 4th quarter worth $34,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN traded up $0.43 during midday trading on Wednesday, hitting $85.56. The stock had a trading volume of 4,167,854 shares, compared to its average volume of 5,328,320. The company has a market capitalization of $265.28 billion, a PE ratio of 41.73, a P/E/G ratio of 1.36 and a beta of 0.45. The stock has a 50 day moving average price of $79.58 and a two-hundred day moving average price of $73.70. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $85.65.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. As a group, equities analysts predict that AstraZeneca PLC will post 4.74 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be given a dividend of $0.49 per share. This represents a yield of 1.8%. The ex-dividend date is Friday, August 9th. AstraZeneca’s payout ratio is currently 48.04%.

Analysts Set New Price Targets

AZN has been the topic of several research reports. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. TD Cowen raised their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Argus raised their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. BMO Capital Markets raised their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $89.75.

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.