JPMorgan Chase & Co. Increases Stake in AstraZeneca PLC $AZN

JPMorgan Chase & Co. raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 27.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,824,072 shares of the company’s stock after purchasing an additional 1,048,738 shares during the period. JPMorgan Chase & Co. owned 0.16% of AstraZeneca worth $370,103,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fayez Sarofim & Co grew its holdings in AstraZeneca by 173.4% in the second quarter. Fayez Sarofim & Co now owns 3,745,902 shares of the company’s stock worth $261,764,000 after purchasing an additional 2,376,032 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of AstraZeneca by 2,389.9% during the second 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 during the last quarter. Jennison Associates LLC grew its position in AstraZeneca by 15.2% during the 2nd quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock worth $850,255,000 after purchasing an additional 1,605,133 shares during the period. Raymond James Financial Inc. raised its stake in shares of AstraZeneca by 64.8% during the 2nd 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 during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of AstraZeneca in the 2nd quarter valued at about $96,936,000. 20.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AZN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, January 21st. Wall Street Zen lowered shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Citigroup started coverage on shares of AstraZeneca in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and set a $103.00 price target on shares of AstraZeneca in a research report on Wednesday, December 3rd. Finally, Guggenheim reaffirmed a “buy” rating on shares of AstraZeneca in a report on Wednesday, December 3rd. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Price Performance

AstraZeneca stock opened at $208.47 on Thursday. The stock has a market capitalization of $323.32 billion, a P/E ratio of 69.26, a P/E/G ratio of 1.59 and a beta of 0.34. The company’s fifty day moving average price is $119.74 and its 200 day moving average price is $95.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71.

AstraZeneca Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Investors 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 74.83%.

AstraZeneca Company Profile

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.