Hartford Funds Management Co LLC Has $736,000 Stake in AstraZeneca PLC (NASDAQ:AZN)

Hartford Funds Management Co LLC raised its stake in AstraZeneca PLC (NASDAQ:AZN) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,238 shares of the company’s stock after acquiring an additional 598 shares during the period. Hartford Funds Management Co LLC’s holdings in AstraZeneca were worth $736,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AZN. Raymond James Financial Inc. bought a new stake in AstraZeneca during the fourth quarter worth about $158,018,000. Bank of Montreal Can grew its stake in AstraZeneca by 109.6% during the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock worth $238,397,000 after buying an additional 1,605,758 shares during the last quarter. Franklin Resources Inc. grew its stake in AstraZeneca by 8.7% during the third 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 during the last quarter. Erste Asset Management GmbH bought a new stake in AstraZeneca during the third quarter worth about $72,437,000. Finally, Proficio Capital Partners LLC grew its stake in AstraZeneca by 6,835.8% during the fourth quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company’s stock worth $46,389,000 after buying an additional 697,801 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on AZN shares. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They set an “overweight” rating on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Price Performance

Shares of AZN stock opened at $77.47 on Friday. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The firm’s 50 day moving average is $70.61 and its 200-day moving average is $72.88. The firm has a market capitalization of $240.25 billion, a price-to-earnings ratio of 34.28, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Sell-side analysts forecast 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 will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a $1.03 dividend. 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 is Friday, February 21st. AstraZeneca’s dividend payout ratio is currently 91.15%.

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.