CIBC Private Wealth Group LLC Sells 984,362 Shares of AstraZeneca PLC (NASDAQ:AZN)

CIBC Private Wealth Group LLC cut its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,105,996 shares of the company’s stock after selling 984,362 shares during the period. AstraZeneca comprises approximately 1.0% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 14th biggest position. CIBC Private Wealth Group LLC owned approximately 0.26% of AstraZeneca worth $539,697,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AZN. Franklin Resources Inc. grew its stake in shares of AstraZeneca by 8.7% in the third 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 during the last quarter. Jennison Associates LLC lifted its holdings 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 buying an additional 466,416 shares during the period. Fisher Asset Management LLC grew its position in shares of AstraZeneca by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company’s stock valued at $718,090,000 after buying an additional 479,692 shares during the last quarter. Manning & Napier Advisors LLC raised its position in shares of AstraZeneca by 17.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock worth $245,407,000 after acquiring an additional 564,297 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of AstraZeneca by 9,985.6% in the fourth quarter. Boston Partners now owns 3,707,479 shares of the company’s stock worth $243,444,000 after acquiring an additional 3,670,719 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AZN shares. Morgan Stanley began coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.3 %

AstraZeneca stock opened at $73.79 on Friday. The company has a market capitalization of $228.84 billion, a PE ratio of 32.65, 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. The firm’s fifty day moving average is $73.55 and its 200 day moving average is $71.67. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

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 analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, sell-side analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were issued a dividend of $1.03 per share. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is currently 91.15%.

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.