Wedmont Private Capital Grows Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Wedmont Private Capital lifted its stake in shares of AstraZeneca PLC (NASDAQ:AZNGet Rating) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,248 shares of the company’s stock after purchasing an additional 1,061 shares during the quarter. Wedmont Private Capital’s holdings in AstraZeneca were worth $281,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Brookstone Capital Management raised its position in AstraZeneca by 456.0% in the second quarter. Brookstone Capital Management now owns 33,363 shares of the company’s stock worth $2,235,000 after acquiring an additional 27,362 shares in the last quarter. Flaharty Asset Management LLC raised its position in AstraZeneca by 85.6% in the second quarter. Flaharty Asset Management LLC now owns 12,234 shares of the company’s stock worth $808,000 after acquiring an additional 5,644 shares in the last quarter. Stonnington Group LLC raised its position in AstraZeneca by 15.8% in the second quarter. Stonnington Group LLC now owns 16,123 shares of the company’s stock worth $1,079,000 after acquiring an additional 2,200 shares in the last quarter. Old Port Advisors raised its position in AstraZeneca by 1.7% in the second quarter. Old Port Advisors now owns 23,500 shares of the company’s stock worth $1,539,000 after acquiring an additional 403 shares in the last quarter. Finally, McLean Asset Management Corp purchased a new position in AstraZeneca in the second quarter worth $381,000. Hedge funds and other institutional investors own 21.55% of the company’s stock.

AstraZeneca Stock Down 0.1 %

AZN opened at $57.99 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.96 and a debt-to-equity ratio of 0.74. The firm has a market cap of $179.70 billion, a P/E ratio of -141.44, a PEG ratio of 1.12 and a beta of 0.44. AstraZeneca PLC has a 52 week low of $53.63 and a 52 week high of $71.70. The business’s fifty day simple moving average is $64.39 and its 200 day simple moving average is $64.92.

AstraZeneca Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 12th were paid a $0.465 dividend. This represents a yield of 2.2%. The ex-dividend date was Thursday, August 11th. AstraZeneca’s payout ratio is -221.95%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Argus raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Monday, August 29th. TheStreet lowered AstraZeneca from a “b-” rating to a “c” rating in a report on Tuesday, August 30th. Morgan Stanley lowered AstraZeneca from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 7th. Credit Suisse Group lowered AstraZeneca from an “outperform” rating to a “neutral” rating in a report on Thursday, September 15th. Finally, Danske assumed coverage on AstraZeneca in a report on Tuesday, May 24th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AstraZeneca has an average rating of “Hold” and an average target price of $8,840.50.

AstraZeneca Profile

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AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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