Summit Trail Advisors LLC Purchases 2,159 Shares of AstraZeneca PLC (NASDAQ:AZN)

Summit Trail Advisors LLC boosted its position in AstraZeneca PLC (NASDAQ:AZN) by 33.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,597 shares of the company’s stock after acquiring an additional 2,159 shares during the period. Summit Trail Advisors LLC’s holdings in AstraZeneca were worth $670,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of AstraZeneca by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 147,251 shares of the company’s stock worth $9,917,000 after acquiring an additional 24,233 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AstraZeneca in the fourth quarter worth approximately $356,000. US Bancorp DE lifted its holdings in shares of AstraZeneca by 20.1% in the fourth quarter. US Bancorp DE now owns 186,629 shares of the company’s stock valued at $12,570,000 after purchasing an additional 31,252 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of AstraZeneca during the fourth quarter valued at approximately $436,000. Finally, Advisory Services Network LLC raised its position in AstraZeneca by 47.7% in the 4th quarter. Advisory Services Network LLC now owns 13,813 shares of the company’s stock valued at $930,000 after buying an additional 4,459 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.7 %

AstraZeneca stock opened at $78.38 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $87.68. The firm has a market capitalization of $243.02 billion, a price-to-earnings ratio of 38.42, a P/E/G ratio of 1.49 and a beta of 0.47. The firm has a 50 day simple moving average of $81.80 and a 200 day simple moving average of $76.65.

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

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AZN shares. Citigroup raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. TD Cowen lifted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. The Goldman Sachs Group started coverage on AstraZeneca in a report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price for the company. Finally, Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $89.75.

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.