HighTower Advisors LLC Cuts Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

HighTower Advisors LLC reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 710,625 shares of the company’s stock after selling 16,040 shares during the period. HighTower Advisors LLC’s holdings in AstraZeneca were worth $46,560,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in AstraZeneca by 1.1% during the 3rd quarter. FMR LLC now owns 23,117,447 shares of the company’s stock worth $1,801,080,000 after buying an additional 258,477 shares in the last quarter. Franklin Resources Inc. increased its stake in AstraZeneca by 8.7% during the 3rd quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock worth $1,492,649,000 after buying an additional 1,522,715 shares in the last quarter. Jennison Associates LLC grew its position in shares of AstraZeneca by 3.1% in the fourth quarter. Jennison Associates LLC now owns 15,430,963 shares of the company’s stock valued at $1,011,037,000 after purchasing an additional 466,416 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of AstraZeneca by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company’s stock valued at $718,090,000 after purchasing an additional 479,692 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its position in shares of AstraZeneca by 17.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock valued at $245,407,000 after purchasing an additional 564,297 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 1.2 %

AZN opened at $76.51 on Friday. AstraZeneca PLC has a one year low of $62.75 and a one year high of $87.68. The stock has a market capitalization of $237.27 billion, a PE ratio of 33.85, a P/E/G ratio of 1.42 and a beta of 0.41. The business’s 50 day moving average price is $71.63 and its 200 day moving average price is $72.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data 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%. As a group, equities research analysts expect 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 will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid 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 is Friday, February 21st. AstraZeneca’s dividend payout ratio is 91.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AZN shares. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $89.75.

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.