Parallel Advisors LLC Decreases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Parallel Advisors LLC decreased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,924 shares of the company’s stock after selling 6,072 shares during the period. Parallel Advisors LLC’s holdings in AstraZeneca were worth $978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZN. Swedbank AB increased its stake in AstraZeneca by 1.3% in the third quarter. Swedbank AB now owns 2,705,757 shares of the company’s stock worth $210,806,000 after purchasing an additional 35,000 shares during the period. Claro Advisors LLC purchased a new stake in AstraZeneca in the third quarter worth $233,000. Pathstone Holdings LLC increased its stake in AstraZeneca by 3.5% in the third quarter. Pathstone Holdings LLC now owns 347,234 shares of the company’s stock worth $27,053,000 after purchasing an additional 11,703 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in AstraZeneca in the third quarter worth $415,000. Finally, PNC Financial Services Group Inc. increased its stake in AstraZeneca by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 238,228 shares of the company’s stock worth $18,560,000 after purchasing an additional 4,580 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AZN. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Price Performance

AZN opened at $76.32 on Thursday. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The business’s fifty day simple moving average is $72.47 and its 200-day simple moving average is $72.16. The company has a market capitalization of $236.68 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share 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%. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

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.