Gibbs Wealth Management Sells 3,351 Shares of Astrazeneca Plc $AZN

Gibbs Wealth Management cut its position in shares of Astrazeneca Plc (NYSE:AZN) by 28.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,293 shares of the company’s stock after selling 3,351 shares during the period. Gibbs Wealth Management’s holdings in Astrazeneca were worth $1,636,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank purchased a new stake in Astrazeneca during the first quarter valued at $1,202,714,000. SEB Asset Management AB bought a new position in shares of Astrazeneca in the 1st quarter valued at about $1,157,593,000. Bank of New York Mellon Corp grew its position in Astrazeneca by 546.1% in the first quarter. Bank of New York Mellon Corp now owns 6,667,812 shares of the company’s stock worth $1,315,026,000 after acquiring an additional 5,635,812 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Astrazeneca by 552.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,547,597 shares of the company’s stock worth $973,603,000 after acquiring an additional 4,697,895 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Astrazeneca by 4,529.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 3,783,927 shares of the company’s stock valued at $747,099,000 after purchasing an additional 3,702,185 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating on shares of Astrazeneca in a research report on Friday, June 26th. Sanford C. Bernstein restated a “buy” rating on shares of Astrazeneca in a report on Monday, May 4th. Weiss Ratings cut shares of Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 18th. Morgan Stanley reissued an “overweight” rating on shares of Astrazeneca in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Astrazeneca in a research report on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.00.

Astrazeneca Stock Down 0.8%

Astrazeneca stock opened at $168.41 on Friday. The business has a fifty day moving average of $180.80 and a two-hundred day moving average of $188.05. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52. The firm has a market cap of $261.19 billion, a P/E ratio of 25.29, a P/E/G ratio of 1.38 and a beta of 0.24. Astrazeneca Plc has a twelve month low of $142.98 and a twelve month high of $212.71.

Astrazeneca (NYSE:AZN) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.06. Astrazeneca had a net margin of 17.19% and a return on equity of 30.86%. The business had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. On average, analysts forecast that Astrazeneca Plc will post 10.22 earnings per share for the current fiscal year.

Astrazeneca Company Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.