Exchange Traded Concepts LLC Has $1.14 Million Stake in AstraZeneca PLC $AZN

Exchange Traded Concepts LLC trimmed its holdings in AstraZeneca PLC (NASDAQ:AZN) by 37.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,305 shares of the company’s stock after selling 9,665 shares during the period. Exchange Traded Concepts LLC’s holdings in AstraZeneca were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in AstraZeneca by 30.9% during the first quarter. Goldman Sachs Group Inc. now owns 13,647,948 shares of the company’s stock valued at $1,003,124,000 after purchasing an additional 3,224,251 shares in the last quarter. American Century Companies Inc. raised its position in AstraZeneca by 406.9% during the first quarter. American Century Companies Inc. now owns 2,020,629 shares of the company’s stock valued at $148,517,000 after purchasing an additional 1,621,974 shares in the last quarter. Boston Partners raised its position in AstraZeneca by 35.9% during the first quarter. Boston Partners now owns 5,036,645 shares of the company’s stock valued at $368,712,000 after purchasing an additional 1,329,166 shares in the last quarter. Deutsche Bank AG raised its position in AstraZeneca by 650.1% during the first quarter. Deutsche Bank AG now owns 1,234,847 shares of the company’s stock valued at $90,761,000 after purchasing an additional 1,070,223 shares in the last quarter. Finally, Invesco Ltd. raised its position in AstraZeneca by 33.2% during the first quarter. Invesco Ltd. now owns 3,807,522 shares of the company’s stock valued at $279,853,000 after purchasing an additional 948,659 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on shares of AstraZeneca in a research 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. According to data from MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Price Performance

AZN stock opened at $77.50 on Tuesday. The firm has a market cap of $240.36 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.40 and a beta of 0.37. 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 company’s fifty day simple moving average is $76.73 and its 200 day simple moving average is $72.94.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.09. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. AstraZeneca’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share. On average, analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

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

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.