Stanley Laman Group Ltd. Reduces Stake in AstraZeneca PLC (NASDAQ:AZN)

Stanley Laman Group Ltd. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,235 shares of the company’s stock after selling 15,256 shares during the quarter. Stanley Laman Group Ltd.’s holdings in AstraZeneca were worth $3,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. McClarren Financial Advisors Inc. boosted its holdings in AstraZeneca by 320.8% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after acquiring an additional 247 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of AstraZeneca in the third quarter valued at approximately $28,000. Albion Financial Group UT increased its holdings in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after purchasing an additional 248 shares during the period. Groupama Asset Managment boosted its stake in shares of AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after buying an additional 101,225 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in AstraZeneca during the third quarter worth $45,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AZN. UBS Group upgraded AstraZeneca from a “sell” rating to a “neutral” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on AstraZeneca in a report on Wednesday. They issued an “overweight” rating for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Price Performance

NASDAQ AZN opened at $74.43 on Thursday. AstraZeneca PLC has a fifty-two week low of $60.76 and a fifty-two week high of $87.68. The stock’s 50-day moving average is $67.67 and its two-hundred day moving average is $73.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71. The firm has a market cap of $230.81 billion, a P/E ratio of 32.93, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.55% and a net margin of 13.01%. On average, analysts anticipate that AstraZeneca PLC will post 4.66 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

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

AstraZeneca Company 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.