Financial Advocates Investment Management Sells 1,973 Shares of AstraZeneca PLC (NASDAQ:AZN)

Financial Advocates Investment Management cut its position in AstraZeneca PLC (NASDAQ:AZN) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,987 shares of the company’s stock after selling 1,973 shares during the quarter. Financial Advocates Investment Management’s holdings in AstraZeneca were worth $851,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Stratos Wealth Advisors LLC raised its stake in AstraZeneca by 2.0% in the third quarter. Stratos Wealth Advisors LLC now owns 6,699 shares of the company’s stock valued at $522,000 after buying an additional 133 shares during the last quarter. Crumly & Associates Inc. raised its position in shares of AstraZeneca by 2.2% in the 3rd quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock valued at $518,000 after purchasing an additional 143 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after purchasing an additional 153 shares in the last quarter. Veery Capital LLC grew its position in AstraZeneca by 4.7% during the 4th quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock worth $230,000 after purchasing an additional 157 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in AstraZeneca by 1.9% during the 3rd quarter. Harbour Investments Inc. now owns 8,805 shares of the company’s stock valued at $686,000 after purchasing an additional 160 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

NASDAQ:AZN opened at $71.99 on Friday. The firm’s fifty day moving average is $67.38 and its two-hundred day moving average is $73.69. The firm has a market cap of $223.25 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.18 and a beta of 0.46. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. AstraZeneca PLC has a one year low of $60.47 and a one year high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 30.01% and a net margin of 12.68%. Research analysts expect that AstraZeneca PLC will post 4.13 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a dividend of $1.03 per share. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is presently 43.36%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report 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 research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca currently has a consensus rating of “Buy” and a consensus target price of $89.75.

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.