Texas Capital Bank Wealth Management Services Inc Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,150 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors raised its stake in AstraZeneca by 0.5% during the fourth quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock worth $2,342,367,000 after acquiring an additional 164,183 shares during the period. Sanders Capital LLC raised its stake in AstraZeneca by 39.0% during the fourth quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock worth $988,972,000 after acquiring an additional 4,122,965 shares during the period. CIBC Private Wealth Group LLC raised its stake in AstraZeneca by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock worth $708,617,000 after acquiring an additional 889,178 shares during the period. Fisher Asset Management LLC raised its stake in AstraZeneca by 2.5% during the fourth quarter. Fisher Asset Management LLC now owns 9,404,023 shares of the company’s stock worth $633,361,000 after acquiring an additional 233,015 shares during the period. Finally, Putnam Investments LLC increased its stake in shares of AstraZeneca by 4.5% in the fourth quarter. Putnam Investments LLC now owns 7,729,834 shares of the company’s stock valued at $520,604,000 after purchasing an additional 333,310 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AZN. The Goldman Sachs Group began coverage on shares of AstraZeneca in a research note on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Argus raised their price target on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BMO Capital Markets raised their price target on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus price target of $88.00.

AstraZeneca Price Performance

Shares of AstraZeneca stock traded up $0.01 on Tuesday, hitting $79.17. The company had a trading volume of 2,832,646 shares, compared to its average volume of 5,291,275. The business has a 50-day simple moving average of $78.39 and a 200-day simple moving average of $71.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market cap of $245.47 billion, a PE ratio of 38.56, a PEG ratio of 1.42 and a beta of 0.45. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $80.86.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.08. The business had revenue of $12.68 billion during the quarter, compared to analysts’ expectations of $11.92 billion. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. Research analysts expect that AstraZeneca PLC will post 4.05 EPS for the current fiscal year.

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.