HighTower Advisors LLC Reduces Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

HighTower Advisors LLC trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 710,625 shares of the company’s stock after selling 16,040 shares during the quarter. HighTower Advisors LLC’s holdings in AstraZeneca were worth $46,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in AstraZeneca during the 4th quarter worth $754,000. Diversify Wealth Management LLC lifted its position in AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after acquiring an additional 153 shares during the period. Ameritas Advisory Services LLC lifted its position in AstraZeneca by 25.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after acquiring an additional 1,949 shares during the period. Oak Ridge Investments LLC lifted its position in AstraZeneca by 5.4% during the 4th quarter. Oak Ridge Investments LLC now owns 143,973 shares of the company’s stock worth $9,433,000 after acquiring an additional 7,341 shares during the period. Finally, Asio Capital LLC lifted its position in AstraZeneca by 11.6% during the 4th quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock worth $3,508,000 after acquiring an additional 5,569 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on AZN. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley began coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Performance

Shares of AZN stock opened at $76.51 on Friday. The stock has a market cap of $237.27 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The business has a 50-day simple moving average of $71.63 and a 200-day simple moving average of $72.54. 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 PLC has a 52-week low of $62.75 and a 52-week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued 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 expect 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 will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a $1.03 dividend. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is presently 91.15%.

About AstraZeneca

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.