AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in AstraZeneca PLC (NASDAQ:AZN) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 41,019,527 shares of the company’s stock after selling 960,518 shares during the period. AstraZeneca makes up 2.1% of Primecap Management Co. CA’s portfolio, making the stock its 12th largest position. Primecap Management Co. CA’s holdings in AstraZeneca were worth $2,687,599,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AZN. Horizon Kinetics Asset Management LLC boosted its stake in AstraZeneca by 4.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 12,876 shares of the company’s stock worth $844,000 after buying an additional 522 shares during the last quarter. Signaturefd LLC boosted its stake in AstraZeneca by 1.5% during the fourth quarter. Signaturefd LLC now owns 60,146 shares of the company’s stock worth $3,941,000 after buying an additional 903 shares during the last quarter. Cibc World Markets Corp boosted its stake in AstraZeneca by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 12,901 shares of the company’s stock worth $845,000 after buying an additional 142 shares during the last quarter. Twin Tree Management LP boosted its stake in AstraZeneca by 708.1% during the fourth quarter. Twin Tree Management LP now owns 85,210 shares of the company’s stock worth $5,583,000 after buying an additional 74,666 shares during the last quarter. Finally, Nicholas Company Inc. boosted its stake in AstraZeneca by 17.3% during the fourth quarter. Nicholas Company Inc. now owns 1,161,009 shares of the company’s stock worth $76,069,000 after buying an additional 171,199 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

NASDAQ:AZN opened at $77.37 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $239.94 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 52 week low of $62.75 and a 52 week high of $87.68. The stock’s fifty day moving average is $72.07 and its two-hundred day moving average is $72.20.

AstraZeneca (NASDAQ:AZN) last posted 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%. Equities analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a dividend of $1.03 per share. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is 91.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AZN shares. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average 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.