Kornitzer Capital Management Inc. KS Lowers Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Kornitzer Capital Management Inc. KS lowered its stake in AstraZeneca PLC (NASDAQ:AZN) by 16.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 299,402 shares of the company’s stock after selling 60,910 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in AstraZeneca were worth $19,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its holdings in shares of AstraZeneca by 320.8% during the third quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after buying an additional 247 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in AstraZeneca during the 3rd quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in shares of AstraZeneca in the 3rd quarter worth $45,000. Albion Financial Group UT raised its stake in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the last quarter. Finally, Hollencrest Capital Management lifted its holdings in shares of AstraZeneca by 38.4% during the third quarter. Hollencrest Capital Management now owns 692 shares of the company’s stock valued at $54,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $73.58 on Tuesday. AstraZeneca PLC has a 12-month low of $61.77 and a 12-month high of $87.68. The firm has a market capitalization of $228.18 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46. The company has a current ratio of 0.93, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $68.17 and a 200 day moving average of $73.34.

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 analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. On average, research analysts anticipate that AstraZeneca PLC will post 4.66 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be paid a $1.03 dividend. The ex-dividend date is Friday, February 21st. This represents a dividend yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio (DPR) is 43.36%.

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.