Davis R M Inc. Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Davis R M Inc. bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,093 shares of the company’s stock, valued at approximately $268,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of AstraZeneca by 1.1% in the third quarter. FMR LLC now owns 23,117,447 shares of the company’s stock worth $1,801,080,000 after acquiring an additional 258,477 shares in the last quarter. Franklin Resources Inc. grew its stake in AstraZeneca by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock worth $1,492,649,000 after purchasing an additional 1,522,715 shares in the last quarter. Jennison Associates LLC grew its stake in AstraZeneca by 3.1% during the 4th quarter. Jennison Associates LLC now owns 15,430,963 shares of the company’s stock worth $1,011,037,000 after purchasing an additional 466,416 shares in the last quarter. Fisher Asset Management LLC increased its holdings in AstraZeneca by 4.6% during the 4th quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company’s stock worth $718,090,000 after purchasing an additional 479,692 shares during the period. Finally, Manning & Napier Advisors LLC raised its position in AstraZeneca by 17.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock valued at $245,407,000 after purchasing an additional 564,297 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Trading Down 2.3 %

Shares of AstraZeneca stock opened at $74.24 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $71.22 and a 200-day simple moving average of $72.49. The stock has a market cap of $230.23 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. On average, equities analysts forecast that AstraZeneca PLC will post 4.51 EPS 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. Shareholders of record on Friday, February 21st will be paid a $1.03 dividend. The ex-dividend date is Friday, February 21st. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is currently 91.15%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley began coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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.