Advisors Asset Management Inc. Acquires 8,453 Shares of AstraZeneca PLC $AZN

Advisors Asset Management Inc. lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 20.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,365 shares of the company’s stock after buying an additional 8,453 shares during the period. Advisors Asset Management Inc.’s holdings in AstraZeneca were worth $3,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fayez Sarofim & Co boosted its position in AstraZeneca by 173.4% during the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock valued at $261,764,000 after purchasing an additional 2,376,032 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of AstraZeneca by 2,389.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,043,850 shares of the company’s stock worth $142,798,000 after purchasing an additional 1,961,764 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of AstraZeneca by 15.2% in the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after buying an additional 1,605,133 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of AstraZeneca by 64.8% in the second quarter. Raymond James Financial Inc. now owns 3,783,251 shares of the company’s stock valued at $264,373,000 after buying an additional 1,487,662 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in AstraZeneca during the second quarter worth $96,936,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AZN. Guggenheim reiterated a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 target price on shares of AstraZeneca in a report on Wednesday, December 3rd. TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a research note on Tuesday, December 9th. HSBC reissued a “buy” rating and set a $108.00 price target on shares of AstraZeneca in a research report on Wednesday, December 10th. Finally, Wall Street Zen lowered AstraZeneca from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AstraZeneca currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

AstraZeneca Trading Up 0.5%

Shares of AstraZeneca stock opened at $205.47 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. The firm has a 50-day moving average of $112.72 and a 200-day moving average of $92.82. AstraZeneca PLC has a 52-week low of $122.48 and a 52-week high of $206.71. The stock has a market cap of $318.66 billion, a PE ratio of 68.26, a PEG ratio of 1.59 and a beta of 0.34.

AstraZeneca Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be given a dividend of $1.595 per share. This represents a dividend yield of 165.0%. The ex-dividend date is Friday, February 20th. AstraZeneca’s dividend payout ratio is presently 34.77%.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.