Hardman Johnston Global Advisors LLC Trims Stock Position in AstraZeneca PLC $AZN

Hardman Johnston Global Advisors LLC cut its stake in AstraZeneca PLC (NASDAQ:AZN) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 552,657 shares of the company’s stock after selling 9,228 shares during the period. AstraZeneca comprises approximately 1.7% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 21st largest position. Hardman Johnston Global Advisors LLC’s holdings in AstraZeneca were worth $38,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC grew its stake in AstraZeneca by 1.9% during the 1st quarter. Lindbrook Capital LLC now owns 7,574 shares of the company’s stock worth $557,000 after buying an additional 141 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of AstraZeneca by 0.5% in the first quarter. Principal Securities Inc. now owns 28,053 shares of the company’s stock valued at $2,062,000 after acquiring an additional 142 shares during the period. Sage Mountain Advisors LLC boosted its holdings in shares of AstraZeneca by 3.4% in the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company’s stock valued at $329,000 after acquiring an additional 147 shares during the period. Evergreen Capital Management LLC raised its position in AstraZeneca by 0.7% in the 1st quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company’s stock valued at $1,743,000 after purchasing an additional 155 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its position in AstraZeneca by 0.3% in the 2nd quarter. Eagle Global Advisors LLC now owns 53,536 shares of the company’s stock valued at $3,741,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.00.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $83.65 on Friday. The company has a market cap of $259.43 billion, a P/E ratio of 31.45, a PEG ratio of 1.55 and a beta of 0.36. AstraZeneca PLC has a 52 week low of $61.24 and a 52 week high of $84.61. The company has a 50-day moving average price of $77.79 and a 200 day moving average price of $73.04. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.08 billion. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. Research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. AstraZeneca’s payout ratio is 37.97%.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.