Alliancebernstein L.P. Acquires 1,222,669 Shares of AstraZeneca PLC (NASDAQ:AZN)

Alliancebernstein L.P. boosted its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 65.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,101,025 shares of the company’s stock after purchasing an additional 1,222,669 shares during the period. Alliancebernstein L.P.’s holdings in AstraZeneca were worth $203,179,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Albion Financial Group UT grew its position in shares of AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. Versant Capital Management Inc grew its holdings in AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after purchasing an additional 707 shares during the period. Golden State Wealth Management LLC purchased a new stake in AstraZeneca in the fourth quarter worth $55,000. Crews Bank & Trust bought a new stake in shares of AstraZeneca in the fourth quarter valued at $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of AstraZeneca during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

AZN has been the subject of several recent research reports. Morgan Stanley assumed coverage on AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AstraZeneca presently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Down 0.4 %

AZN stock opened at $73.50 on Tuesday. The stock has a 50-day simple moving average of $73.69 and a two-hundred day simple moving average of $71.57. AstraZeneca PLC has a twelve month low of $62.75 and a twelve month high of $87.68. The firm has a market capitalization of $227.94 billion, a PE ratio of 32.52, a PEG ratio of 1.42 and a beta of 0.41. 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 (NASDAQ:AZN) last issued its quarterly earnings data 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 net margin of 13.01% and a return on equity of 32.23%. On average, equities analysts predict that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were given a $1.03 dividend. This represents a dividend yield of 2%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio (DPR) is 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.