Allianz Asset Management GmbH Makes New $208,000 Investment in AstraZeneca PLC $AZN

Allianz Asset Management GmbH purchased a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,705 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AZN. Y Intercept Hong Kong Ltd lifted its holdings in shares of AstraZeneca by 111.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 66,643 shares of the company’s stock valued at $5,113,000 after purchasing an additional 35,148 shares in the last quarter. Oxbow Advisors LLC grew its holdings in shares of AstraZeneca by 96.2% during the third quarter. Oxbow Advisors LLC now owns 77,594 shares of the company’s stock worth $5,953,000 after buying an additional 38,043 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in AstraZeneca by 10.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 191,518 shares of the company’s stock valued at $16,156,000 after buying an additional 17,548 shares during the last quarter. New York State Common Retirement Fund lifted its stake in AstraZeneca by 61.1% in the 3rd quarter. New York State Common Retirement Fund now owns 316,722 shares of the company’s stock valued at $24,299,000 after acquiring an additional 120,064 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in AstraZeneca by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 41,565 shares of the company’s stock worth $3,067,000 after acquiring an additional 13,964 shares during the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

AZN has been the subject of several recent research reports. Barclays restated an “overweight” rating on shares of AstraZeneca in a report on Tuesday, January 6th. Morgan Stanley restated an “overweight” rating and issued a $103.00 price objective on shares of AstraZeneca in a report on Wednesday, December 3rd. Jefferies Financial Group began coverage on AstraZeneca in a research report on Monday, October 27th. They issued a “buy” rating on the stock. Wall Street Zen cut AstraZeneca from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of AstraZeneca in a research note on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.75.

AstraZeneca Price Performance

Shares of NASDAQ AZN opened at $205.47 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average price is $112.72 and its two-hundred day moving average price is $93.06. The company has a market cap of $318.66 billion, a PE ratio of 68.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.34. AstraZeneca PLC has a twelve month low of $122.48 and a twelve month high of $206.71.

AstraZeneca Announces Dividend

The business also recently disclosed 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 yield of 165.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca’s payout ratio is 74.83%.

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.