Manning & Napier Group LLC Buys 2,050,064 Shares of AstraZeneca PLC (NASDAQ:AZN)

Manning & Napier Group LLC raised its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 281.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,779,212 shares of the company’s stock after acquiring an additional 2,050,064 shares during the period. AstraZeneca comprises approximately 2.2% of Manning & Napier Group LLC’s investment portfolio, making the stock its 11th largest holding. Manning & Napier Group LLC owned 0.09% of AstraZeneca worth $187,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of AZN. Fairfield Bush & CO. bought a new position in AstraZeneca during the 2nd quarter valued at $25,000. Anchor Investment Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter valued at $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter valued at $26,000. Parkside Financial Bank & Trust increased its position in shares of AstraZeneca by 4,875.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 398 shares of the company’s stock valued at $26,000 after purchasing an additional 390 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of AstraZeneca during the 4th quarter valued at $27,000. 20.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AZN has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. HSBC assumed coverage on AstraZeneca in a report on Monday, December 18th. They issued a “buy” rating for the company. Jefferies Financial Group lowered AstraZeneca from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, Morgan Stanley assumed coverage on AstraZeneca in a report on Tuesday, January 23rd. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

AstraZeneca Price Performance

Shares of AZN traded down $0.51 during trading hours on Friday, reaching $67.75. 3,617,090 shares of the company’s stock traded hands, compared to its average volume of 4,747,159. The stock has a market cap of $210.05 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $65.66 and its 200-day simple moving average is $65.82. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $76.56.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $12.07 billion. AstraZeneca had a net margin of 13.00% and a return on equity of 30.19%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. Equities analysts expect that AstraZeneca PLC will post 4.06 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were given a $0.965 dividend. This is an increase from AstraZeneca’s previous Semi-Annual dividend of $0.47. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a yield of 2.3%. AstraZeneca’s payout ratio is presently 100.52%.

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.