Arrowstreet Capital Limited Partnership Increases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Arrowstreet Capital Limited Partnership increased its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 236.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,117,094 shares of the company’s stock after buying an additional 784,753 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in AstraZeneca were worth $73,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its stake in 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 buying an additional 248 shares during the last quarter. Versant Capital Management Inc increased its position 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 acquiring an additional 707 shares during the last quarter. Golden State Wealth Management LLC bought a new position in AstraZeneca in the fourth quarter valued at about $55,000. Crews Bank & Trust purchased a new position in AstraZeneca in the fourth quarter worth about $55,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $55,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $73.50 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The firm has a fifty day moving average price of $73.69 and a 200-day moving average price of $71.57. The stock has a market cap of $227.94 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results 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%. Equities analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a dividend of $1.03 per share. This is a positive change 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 (DPR) is 91.15%.

Analysts Set New Price Targets

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

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.