Fifth Third Bancorp Boosts Stake in AstraZeneca PLC $AZN

Fifth Third Bancorp grew its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,556 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Fifth Third Bancorp’s holdings in AstraZeneca were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 289 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of AstraZeneca during the first quarter worth about $29,000. Costello Asset Management INC acquired a new position in shares of AstraZeneca during the first quarter worth about $29,000. Highline Wealth Partners LLC lifted its stake in shares of AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock worth $31,000 after purchasing an additional 340 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of AstraZeneca during the first quarter worth about $37,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AstraZeneca Stock Up 3.5%

Shares of AstraZeneca stock opened at $76.72 on Wednesday. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $82.41. The stock has a market capitalization of $237.94 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 1.36 and a beta of 0.37. The business’s 50 day simple moving average is $77.37 and its 200-day simple moving average is $72.92. The company has a current ratio of 0.86, a quick ratio of 0.67 and a debt-to-equity ratio of 0.55.

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

AstraZeneca Cuts Dividend

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