NewEdge Wealth LLC Purchases 7,653 Shares of Astrazeneca Plc $AZN

NewEdge Wealth LLC increased its position in shares of Astrazeneca Plc (NYSE:AZN) by 15.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,114 shares of the company’s stock after buying an additional 7,653 shares during the period. NewEdge Wealth LLC’s holdings in Astrazeneca were worth $9,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AZN. Triumph Capital Management bought a new stake in shares of Astrazeneca during the third quarter valued at approximately $25,000. Bangor Savings Bank grew its position in Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after acquiring an additional 154 shares during the period. Eagle Bay Advisors LLC bought a new stake in Astrazeneca in the fourth quarter valued at $30,000. Rakuten Investment Management Inc. bought a new stake in Astrazeneca in the third quarter valued at $31,000. Finally, YANKCOM Partnership bought a new stake in Astrazeneca in the fourth quarter valued at $31,000. 20.35% of the stock is currently owned by institutional investors.

Astrazeneca Price Performance

Shares of AZN stock opened at $182.71 on Monday. The stock’s fifty day moving average is $194.66 and its 200-day moving average is $181.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. The stock has a market capitalization of $283.37 billion, a PE ratio of 27.43, a PEG ratio of 1.50 and a beta of 0.26. Astrazeneca Plc has a 52 week low of $132.32 and a 52 week high of $212.71.

Astrazeneca (NYSE:AZN) last announced its earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.52 by $0.06. The company had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. Equities research analysts expect that Astrazeneca Plc will post 10.26 EPS for the current fiscal year.

Astrazeneca Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were issued a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca’s dividend payout ratio is presently 65.17%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AZN shares. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Astrazeneca in a research report on Thursday, April 23rd. Barclays upgraded Astrazeneca from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 29th. UBS Group reiterated a “buy” rating on shares of Astrazeneca in a research report on Friday, April 10th. Jefferies Financial Group reiterated a “buy” rating on shares of Astrazeneca in a research report on Thursday, April 30th. Finally, TD Cowen reiterated a “buy” rating on shares of Astrazeneca in a research report on Wednesday, March 18th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.33.

About Astrazeneca

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.