Marcum Wealth LLC Sells 488 Shares of AstraZeneca PLC (NASDAQ:AZN)

Marcum Wealth LLC reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,875 shares of the company’s stock after selling 488 shares during the period. Marcum Wealth LLC’s holdings in AstraZeneca were worth $692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Able Wealth Management LLC acquired a new position in AstraZeneca during the fourth quarter valued at approximately $27,000. Pathway Financial Advisers LLC bought a new stake in AstraZeneca in the first quarter valued at approximately $29,000. Pin Oak Investment Advisors Inc. raised its stake in AstraZeneca by 468.4% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after buying an additional 370 shares during the period. RFP Financial Group LLC raised its stake in AstraZeneca by 56.3% in the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after buying an additional 178 shares during the period. Finally, Northwest Financial Advisors bought a new stake in AstraZeneca in the fourth quarter valued at approximately $34,000. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

NASDAQ:AZN traded down $2.48 during trading hours on Monday, hitting $79.33. 5,728,821 shares of the company’s stock traded hands, compared to its average volume of 5,368,322. The firm has a market cap of $245.97 billion, a P/E ratio of 39.05, a P/E/G ratio of 1.55 and a beta of 0.45. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $82.01. The business’s fifty day simple moving average is $78.68 and its two-hundred day simple moving average is $72.36. 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 (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The firm had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently disclosed 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. This represents a yield of 1.8%. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s dividend payout ratio (DPR) is presently 94.61%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Argus increased their target price on AstraZeneca from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. BMO Capital Markets raised their price objective on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group started coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 price objective on the stock. Finally, Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AstraZeneca currently has an average rating of “Buy” and an average price target of $88.00.

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.