South Street Advisors LLC Purchases New Position in Astrazeneca Plc $AZN

South Street Advisors LLC purchased a new stake in Astrazeneca Plc (NYSE:AZN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,125 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds have also recently bought and sold shares of AZN. Rakuten Investment Management Inc. acquired a new position in shares of Astrazeneca in the third quarter valued at approximately $31,000. FSA Wealth Management LLC lifted its holdings in Astrazeneca by 376.0% during the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in Astrazeneca during the 2nd quarter worth approximately $33,000. E Fund Management Hong Kong Co. Ltd. boosted its stake 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 valued at $36,000 after purchasing an additional 275 shares during the period. 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 valued at $40,000 after buying an additional 495 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Astrazeneca Trading Down 1.2%

NYSE:AZN opened at $190.20 on Friday. The firm has a market cap of $294.98 billion, a PE ratio of 29.04, a P/E/G ratio of 1.45 and a beta of 0.32. Astrazeneca Plc has a fifty-two week low of $122.48 and a fifty-two week high of $212.71. The company has a quick ratio of 0.72, a current ratio of 0.94 and a debt-to-equity ratio of 0.51.

Astrazeneca Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AZN shares. Barclays reiterated an “overweight” rating on shares of Astrazeneca in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of Astrazeneca from a “buy” rating to a “hold” rating in a research note on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Astrazeneca in a research report on Wednesday, December 3rd. HSBC reiterated a “buy” rating and issued a $108.00 price objective on shares of Astrazeneca in a research note on Wednesday, December 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $103.00 price objective on shares of Astrazeneca in a report on Wednesday, December 3rd. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.75.

Astrazeneca 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.