Van Hulzen Asset Management LLC Purchases New Shares in AstraZeneca PLC (NASDAQ:AZN)

Van Hulzen Asset Management LLC acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,016 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in shares of AstraZeneca by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 8,005 shares of the company’s stock worth $542,000 after purchasing an additional 137 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of AstraZeneca by 19.1% during the second quarter. Bruce G. Allen Investments LLC now owns 860 shares of the company’s stock valued at $67,000 after acquiring an additional 138 shares during the last quarter. Carnegie Investment Counsel lifted its position in shares of AstraZeneca by 0.8% in the second quarter. Carnegie Investment Counsel now owns 17,269 shares of the company’s stock valued at $1,347,000 after acquiring an additional 138 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of AstraZeneca by 40.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 506 shares of the company’s stock worth $34,000 after acquiring an additional 146 shares during the last quarter. Finally, Sunpointe LLC boosted its stake in shares of AstraZeneca by 4.5% in the second quarter. Sunpointe LLC now owns 3,419 shares of the company’s stock worth $267,000 after acquiring an additional 147 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Stock Up 0.3 %

AZN stock opened at $81.16 on Wednesday. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68. The firm has a market cap of $251.64 billion, a PE ratio of 39.78, a PEG ratio of 1.57 and a beta of 0.47. The firm’s 50 day moving average price is $81.57 and its 200-day moving average price is $75.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.89.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.08 EPS. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were given a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 9th. AstraZeneca’s dividend payout ratio is presently 48.04%.

Wall Street Analyst Weigh In

AZN has been the topic of a number of research reports. Barclays upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. The Goldman Sachs Group started coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. TD Cowen increased their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Argus increased their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AstraZeneca has an average rating of “Buy” and a consensus target price of $89.75.

About AstraZeneca

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.