Institute for Wealth Management LLC. Decreases Holdings in AstraZeneca PLC $AZN

Institute for Wealth Management LLC. trimmed its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,234 shares of the company’s stock after selling 186 shares during the period. Institute for Wealth Management LLC.’s holdings in AstraZeneca were worth $366,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AZN. Larson Financial Group LLC raised its holdings in shares of AstraZeneca by 297.9% during the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 289 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca during the 1st quarter valued at about $29,000. Costello Asset Management INC purchased a new position in shares of AstraZeneca during the 1st quarter valued at about $29,000. Highline Wealth Partners LLC raised its holdings in shares of AstraZeneca by 447.4% during the 1st quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock valued at $31,000 after buying an additional 340 shares in the last quarter. Finally, Maseco LLP purchased a new position in AstraZeneca in the 2nd quarter worth approximately $34,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AZN opened at $83.65 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $84.61. The stock has a market capitalization of $259.43 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The stock’s 50 day moving average price is $77.79 and its 200-day moving average price is $73.04.

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

AstraZeneca Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s payout ratio is 37.97%.

Wall Street Analysts Forecast Growth

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

AstraZeneca 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.