Swedbank AB Increases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Swedbank AB lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,705,757 shares of the company’s stock after acquiring an additional 35,000 shares during the period. Swedbank AB owned 0.09% of AstraZeneca worth $210,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Cox Capital Mgt LLC acquired a new stake in shares of AstraZeneca during the first quarter worth $2,683,000. TD Asset Management Inc lifted its holdings in shares of AstraZeneca by 8.6% during the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock worth $104,160,000 after purchasing an additional 121,876 shares during the period. Northcape Wealth Management LLC acquired a new stake in shares of AstraZeneca during the second quarter worth $269,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of AstraZeneca by 9.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,136 shares of the company’s stock worth $416,000 after purchasing an additional 543 shares during the period. Finally, Cetera Advisors LLC lifted its holdings in shares of AstraZeneca by 124.5% during the first quarter. Cetera Advisors LLC now owns 98,262 shares of the company’s stock worth $6,657,000 after purchasing an additional 54,488 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

Shares of NASDAQ:AZN traded down $0.35 during midday trading on Tuesday, hitting $77.75. 1,478,377 shares of the stock were exchanged, compared to its average volume of 5,098,466. The stock has a market cap of $241.06 billion, a P/E ratio of 38.28, a PEG ratio of 1.42 and a beta of 0.46. The company has a 50 day moving average price of $81.34 and a 200-day moving average price of $77.97. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. On average, research analysts forecast that AstraZeneca PLC will post 4.07 earnings per share for the current year.

AstraZeneca Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were issued a $0.49 dividend. This represents a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is 48.04%.

Analyst Ratings Changes

A number of equities research analysts have commented on AZN shares. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Finally, TD Cowen lifted their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.75.

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.