First Trust Advisors LP Decreases Stake in AstraZeneca PLC $AZN

First Trust Advisors LP lessened its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,005,750 shares of the company’s stock after selling 103,714 shares during the quarter. First Trust Advisors LP’s holdings in AstraZeneca were worth $77,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rakuten Investment Management Inc. purchased a new position in shares of AstraZeneca in the third quarter worth $31,000. FSA Wealth Management LLC boosted its position in AstraZeneca by 376.0% during the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock valued at $33,000 after buying an additional 376 shares during the period. VSM Wealth Advisory LLC purchased a new stake in AstraZeneca during the 2nd quarter valued at $33,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in AstraZeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock worth $36,000 after acquiring an additional 275 shares during the last quarter. Finally, Abound Wealth Management grew its holdings in AstraZeneca by 1,767.9% in the 3rd quarter. Abound Wealth Management now owns 523 shares of the company’s stock worth $40,000 after acquiring an additional 495 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AZN. Citigroup assumed coverage on shares of AstraZeneca in a research note on Tuesday, January 27th. They set a “buy” rating for the company. Barclays reissued an “overweight” rating on shares of AstraZeneca in a research note on Tuesday, January 6th. HSBC reaffirmed a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a research report on Wednesday, December 10th. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price objective on shares of AstraZeneca in a research report on Wednesday, December 3rd. Nine 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 has an average rating of “Moderate Buy” and a consensus price target of $95.75.

AstraZeneca Trading Up 0.4%

NASDAQ:AZN opened at $195.00 on Tuesday. AstraZeneca PLC has a one year low of $122.48 and a one year high of $212.71. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69. The company’s 50-day simple moving average is $148.76 and its 200 day simple moving average is $107.42. The firm has a market capitalization of $302.42 billion, a P/E ratio of 64.78, a PEG ratio of 1.59 and a beta of 0.32.

AstraZeneca Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be given a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca’s payout ratio is currently 66.26%.

AstraZeneca Company 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.