Pines Wealth Management LLC Makes New $378,000 Investment in AstraZeneca PLC (NASDAQ:AZN)

Pines Wealth Management LLC bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,646 shares of the company’s stock, valued at approximately $378,000.

Several other hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its holdings in AstraZeneca by 320.8% in the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of AstraZeneca in the 3rd quarter worth about $28,000. Groupama Asset Managment increased its stake in shares of AstraZeneca by 22.9% in the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after acquiring an additional 101,225 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in AstraZeneca during the 3rd quarter valued at about $45,000. Finally, Versant Capital Management Inc boosted its stake in AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after acquiring an additional 707 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Price Performance

Shares of NASDAQ AZN opened at $65.68 on Thursday. The firm has a market cap of $203.65 billion, a P/E ratio of 31.43, a PEG ratio of 1.19 and a beta of 0.46. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a quick ratio of 0.71, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $65.98 and a 200 day moving average of $74.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. The firm had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter in the previous year, the business earned $0.87 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts expect that AstraZeneca PLC will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $89.75.

About AstraZeneca

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.