Financial Gravity Asset Management Inc. Increases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Financial Gravity Asset Management Inc. increased its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 16.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,357 shares of the company’s stock after purchasing an additional 3,710 shares during the period. Financial Gravity Asset Management Inc.’s holdings in AstraZeneca were worth $2,054,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Custom Index Systems LLC purchased a new position in AstraZeneca in the second quarter valued at about $215,000. Norden Group LLC grew its position in shares of AstraZeneca by 31.3% in the 2nd quarter. Norden Group LLC now owns 4,932 shares of the company’s stock worth $385,000 after buying an additional 1,175 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in shares of AstraZeneca by 4.6% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 3,529 shares of the company’s stock worth $275,000 after acquiring an additional 154 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of AstraZeneca by 18.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,678 shares of the company’s stock worth $521,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Advisor OS LLC lifted its position in AstraZeneca by 4.2% during the second quarter. Advisor OS LLC now owns 5,617 shares of the company’s stock valued at $438,000 after acquiring an additional 226 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Argus upped their target price on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Finally, TD Cowen lifted their target price on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Trading Up 0.1 %

Shares of NASDAQ:AZN opened at $83.05 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. The stock has a market cap of $257.50 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 1.62 and a beta of 0.47. The business has a 50-day moving average price of $81.43 and a 200-day moving average price of $75.66.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the company earned $1.08 EPS. AstraZeneca’s quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts predict that AstraZeneca PLC will post 4.05 EPS for the current year.

AstraZeneca Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s dividend payout ratio is presently 48.04%.

AstraZeneca 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.