CIBC Asset Management Inc Grows Holdings in AstraZeneca plc (AZN)
CIBC Asset Management Inc grew its holdings in AstraZeneca plc (NYSE:AZN) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 136,450 shares of the company’s stock after acquiring an additional 3,110 shares during the period. CIBC Asset Management Inc’s holdings in AstraZeneca were worth $4,735,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WFG Advisors LP increased its holdings in shares of AstraZeneca by 36.0% during the 2nd quarter. WFG Advisors LP now owns 3,716 shares of the company’s stock worth $127,000 after buying an additional 984 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of AstraZeneca during the 3rd quarter worth approximately $133,000. Quadrant Capital Group LLC increased its holdings in shares of AstraZeneca by 18.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 5,437 shares of the company’s stock worth $147,000 after buying an additional 846 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of AstraZeneca during the 3rd quarter worth approximately $184,000. Finally, Clean Yield Group acquired a new stake in shares of AstraZeneca during the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 14.79% of the company’s stock.
A number of analysts have recently issued reports on the stock. BMO Capital Markets restated a “buy” rating and set a $38.00 price target on shares of AstraZeneca in a report on Friday, January 26th. Zacks Investment Research upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. ValuEngine upgraded shares of AstraZeneca from a “buy” rating to a “strong-buy” rating in a report on Saturday. Leerink Swann reiterated a “market perform” rating and issued a $36.00 target price (up previously from $33.00) on shares of AstraZeneca in a report on Thursday, January 18th. Finally, Sanford C. Bernstein lifted their target price on shares of AstraZeneca from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.20.
AstraZeneca (NYSE:AZN) last posted its quarterly earnings results on Friday, February 2nd. The company reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.86. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.49 billion. AstraZeneca had a net margin of 13.36% and a return on equity of 35.56%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share. sell-side analysts forecast that AstraZeneca plc will post 1.69 EPS for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, February 16th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a dividend yield of 5.62%. AstraZeneca’s dividend payout ratio (DPR) is 57.81%.
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AstraZeneca Company Profile
AstraZeneca PLC (AstraZeneca) is a biopharmaceutical company. The Company focuses on discovery and development of products, which are then manufactured, marketed and sold. The Company focuses on three main therapy areas: Oncology, Cardiovascular & Metabolic Disease (CVMD) and Respiratory, while selectively pursuing therapies in Autoimmunity, Infection and Neuroscience.
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