Pictet Asset Management Holding SA Has $37.30 Million Holdings in AstraZeneca PLC (NASDAQ:AZN)

Pictet Asset Management Holding SA trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 569,300 shares of the company’s stock after selling 53,904 shares during the period. Pictet Asset Management Holding SA’s holdings in AstraZeneca were worth $37,301,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Boston Partners grew its stake in shares of AstraZeneca by 9,985.6% during the 4th quarter. Boston Partners now owns 3,707,479 shares of the company’s stock worth $243,444,000 after acquiring an additional 3,670,719 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in AstraZeneca in the 4th quarter valued at $158,018,000. Franklin Resources Inc. lifted its position 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. Parnassus Investments LLC boosted its stake in shares of AstraZeneca by 15,819.8% during the 4th quarter. Parnassus Investments LLC now owns 1,179,018 shares of the company’s stock worth $77,249,000 after buying an additional 1,171,612 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of AstraZeneca in the 3rd quarter valued at about $72,437,000. 20.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

AZN has been the topic of several analyst reports. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a research note on Wednesday, February 12th. They set an “overweight” rating on the stock. One equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Performance

AZN opened at $73.79 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The business has a 50 day moving average of $73.55 and a 200-day moving average of $71.61. The stock has a market cap of $228.84 billion, a price-to-earnings ratio of 32.65, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. On average, equities research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a $1.03 dividend. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s dividend payout ratio is currently 91.15%.

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.