Sovran Advisors LLC Invests $210,000 in AstraZeneca PLC $AZN

Sovran Advisors LLC acquired a new stake in AstraZeneca PLC (NASDAQ:AZN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,004 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently added to or reduced their stakes in AZN. Dynamic Advisor Solutions LLC lifted its stake in shares of AstraZeneca by 58.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 13,055 shares of the company’s stock worth $960,000 after acquiring an additional 4,811 shares in the last quarter. SCS Capital Management LLC acquired a new stake in shares of AstraZeneca during the 1st quarter worth approximately $3,066,000. Farther Finance Advisors LLC raised its position in shares of AstraZeneca by 13.1% during the 1st quarter. Farther Finance Advisors LLC now owns 6,083 shares of the company’s stock worth $442,000 after purchasing an additional 706 shares during the period. Strs Ohio acquired a new stake in shares of AstraZeneca during the 1st quarter worth approximately $26,828,000. Finally, Wesbanco Bank Inc. grew its holdings in AstraZeneca by 11.8% in the 2nd quarter. Wesbanco Bank Inc. now owns 123,646 shares of the company’s stock worth $8,640,000 after buying an additional 13,069 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

AZN opened at $76.28 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $82.41. The stock has a fifty day moving average of $76.61 and a 200-day moving average of $72.97. The firm has a market capitalization of $236.57 billion, a P/E ratio of 28.68, a PEG ratio of 1.40 and a beta of 0.37.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Equities analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were issued a $0.505 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s dividend payout ratio (DPR) is currently 37.97%.

Analyst Ratings Changes

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.00.

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.