Rafferty Asset Management LLC Reduces Stock Holdings in AstraZeneca PLC $AZN

Rafferty Asset Management LLC decreased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 4.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 160,498 shares of the company’s stock after selling 7,892 shares during the period. Rafferty Asset Management LLC’s holdings in AstraZeneca were worth $12,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Chapin Davis Inc. increased its holdings in shares of AstraZeneca by 3.3% in the third quarter. Chapin Davis Inc. now owns 3,795 shares of the company’s stock valued at $291,000 after purchasing an additional 120 shares during the period. CoreCap Advisors LLC increased its holdings in shares of AstraZeneca by 30.6% during the 3rd quarter. CoreCap Advisors LLC now owns 534 shares of the company’s stock valued at $41,000 after purchasing an additional 125 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in AstraZeneca by 32.0% in the third quarter. Highline Wealth Partners LLC now owns 532 shares of the company’s stock valued at $41,000 after buying an additional 129 shares in the last quarter. Traub Capital Management LLC raised its holdings in AstraZeneca by 3.3% in the 3rd quarter. Traub Capital Management LLC now owns 4,115 shares of the company’s stock worth $316,000 after purchasing an additional 130 shares during the period. Finally, Aaron Wealth Advisors LLC increased its position in shares of AstraZeneca by 0.6% in the third quarter. Aaron Wealth Advisors LLC now owns 21,215 shares of the company’s stock valued at $1,628,000 after buying an additional 136 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Up 2.3%

AZN stock opened at $208.72 on Monday. AstraZeneca PLC has a fifty-two week low of $122.48 and a fifty-two week high of $212.71. The company’s 50 day moving average price is $135.91 and its 200 day moving average price is $102.37. The firm has a market capitalization of $323.71 billion, a price-to-earnings ratio of 69.34, a PEG ratio of 1.59 and a beta of 0.34. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88.

AstraZeneca Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be paid a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a yield of 156.0%. AstraZeneca’s dividend payout ratio (DPR) is currently 74.83%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup started coverage on AstraZeneca in a report on Tuesday, January 27th. They set a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of AstraZeneca in a research note on Friday, February 6th. Morgan Stanley reissued an “overweight” rating and set a $103.00 price objective on shares of AstraZeneca in a research report on Wednesday, December 3rd. Finally, TD Cowen reissued a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Profile

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.