Franklin Resources Inc. Buys 357,894 Shares of AstraZeneca PLC (NASDAQ:AZN)

Franklin Resources Inc. boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,480,569 shares of the company’s stock after buying an additional 357,894 shares during the quarter. Franklin Resources Inc. owned approximately 0.63% of AstraZeneca worth $1,276,367,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. lifted its position in AstraZeneca by 65.1% during the 4th quarter. Alliancebernstein L.P. now owns 3,101,025 shares of the company’s stock valued at $203,179,000 after purchasing an additional 1,222,669 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in AstraZeneca during the 4th quarter worth approximately $28,071,000. Arrowstreet Capital Limited Partnership lifted its stake in AstraZeneca by 236.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,117,094 shares of the company’s stock valued at $73,192,000 after buying an additional 784,753 shares in the last quarter. Tucker Asset Management LLC increased its position in shares of AstraZeneca by 23.0% during the fourth quarter. Tucker Asset Management LLC now owns 3,388 shares of the company’s stock worth $222,000 after acquiring an additional 633 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in shares of AstraZeneca by 2.5% during the fourth quarter. Intrust Bank NA now owns 14,056 shares of the company’s stock worth $921,000 after acquiring an additional 348 shares during the period. 20.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on AZN shares. Morgan Stanley started coverage on AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating 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. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Price Performance

Shares of AZN opened at $73.79 on Monday. The company’s 50-day moving average is $73.55 and its 200-day moving average is $71.61. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The firm 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 fifty-two week low of $62.75 and a fifty-two week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Equities analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a $1.03 dividend. This represents a dividend yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s payout ratio is presently 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.