QRG Capital Management Inc. Acquires 23,040 Shares of AstraZeneca PLC (NASDAQ:AZN)

QRG Capital Management Inc. raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 13.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,131 shares of the company’s stock after acquiring an additional 23,040 shares during the quarter. QRG Capital Management Inc.’s holdings in AstraZeneca were worth $15,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AZN. Tlwm increased its holdings in AstraZeneca by 1.7% in the 2nd quarter. Tlwm now owns 16,377 shares of the company’s stock worth $1,277,000 after acquiring an additional 274 shares in the last quarter. Lion Street Advisors LLC increased its stake in shares of AstraZeneca by 5.6% in the second quarter. Lion Street Advisors LLC now owns 3,462 shares of the company’s stock worth $270,000 after purchasing an additional 185 shares in the last quarter. Capital Investment Advisors LLC bought a new stake in shares of AstraZeneca during the 2nd quarter valued at $222,000. McLean Asset Management Corp lifted its stake in shares of AstraZeneca by 5.1% during the 2nd quarter. McLean Asset Management Corp now owns 6,550 shares of the company’s stock valued at $509,000 after buying an additional 319 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in AstraZeneca in the 2nd quarter worth $188,476,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

Shares of NASDAQ AZN traded down $0.16 during midday trading on Friday, reaching $81.19. 3,078,360 shares of the stock traded hands, compared to its average volume of 5,345,006. The company’s 50 day moving average is $79.00 and its 200 day moving average is $72.80. AstraZeneca PLC has a one year low of $60.47 and a one year high of $82.01. The stock has a market capitalization of $251.73 billion, a PE ratio of 39.80, a P/E/G ratio of 1.50 and a beta of 0.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick 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, beating the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The business had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the business earned $1.08 earnings per share. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.49 per share. This represents a yield of 1.8%. The ex-dividend date is Friday, August 9th. AstraZeneca’s payout ratio is 48.04%.

Wall Street Analyst Weigh In

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

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.