Springhill Fund Asset Management HK Co Ltd Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Springhill Fund Asset Management HK Co Ltd bought a new stake in AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 76,500 shares of the company’s stock, valued at approximately $5,012,000. AstraZeneca accounts for about 8.1% of Springhill Fund Asset Management HK Co Ltd’s portfolio, making the stock its 4th largest position.

Several other large investors also recently made changes to their positions in AZN. Albion Financial Group UT boosted its position in AstraZeneca by 68.9% during 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 period. Groupama Asset Managment increased its holdings in shares of AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after purchasing an additional 101,225 shares during the period. Versant Capital Management Inc raised its position in shares of AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after buying an additional 707 shares in the last quarter. Crews Bank & Trust acquired a new stake in AstraZeneca during the fourth quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of AstraZeneca in the 4th quarter valued at approximately $55,000. Institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

AZN has been the subject of a number of research reports. Morgan Stanley began coverage on shares of AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Price Performance

NASDAQ:AZN opened at $68.46 on Friday. AstraZeneca PLC has a 52-week low of $62.75 and a 52-week high of $87.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The firm has a market capitalization of $212.31 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.42 and a beta of 0.49. The stock has a fifty day moving average of $73.96 and a 200 day moving average of $71.43.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. On average, research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $1.03 per share. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s 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.