Pictet Asset Management Holding SA Sells 53,904 Shares of AstraZeneca PLC (NASDAQ:AZN)

Pictet Asset Management Holding SA trimmed its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,300 shares of the company’s stock after selling 53,904 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AstraZeneca were worth $37,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of AstraZeneca in the fourth quarter valued at $1,073,000. Howe & Rusling Inc. increased its position in AstraZeneca by 30.6% in the 4th quarter. Howe & Rusling Inc. now owns 156,465 shares of the company’s stock valued at $10,252,000 after acquiring an additional 36,653 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of AstraZeneca by 19.8% in the fourth quarter. NEOS Investment Management LLC now owns 39,611 shares of the company’s stock worth $2,595,000 after acquiring an additional 6,541 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AstraZeneca by 2.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 40,341 shares of the company’s stock worth $2,673,000 after purchasing an additional 923 shares in the last quarter. Finally, Foundation Wealth Management LLC PA bought a new stake in shares of AstraZeneca during the fourth quarter valued at approximately $2,514,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley started coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group raised 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 issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Up 1.3 %

Shares of AstraZeneca stock opened at $73.79 on Monday. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The business has a fifty day simple moving average of $73.55 and a 200 day simple moving average of $71.61. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The stock has a market cap of $228.84 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results 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%. Research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

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