AstraZeneca PLC (NASDAQ:AZN) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lessened its holdings in AstraZeneca PLC (NASDAQ:AZN) by 3.5% in the first quarter, HoldingsChannel.com reports. The firm owned 5,317 shares of the company’s stock after selling 195 shares during the period. EverSource Wealth Advisors LLC’s holdings in AstraZeneca were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AZN. Able Wealth Management LLC bought a new stake in AstraZeneca in the fourth quarter valued at $27,000. Pathway Financial Advisers LLC bought a new stake in shares of AstraZeneca during the first quarter valued at about $29,000. Pin Oak Investment Advisors Inc. raised its stake in shares of AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock valued at $30,000 after purchasing an additional 370 shares in the last quarter. RFP Financial Group LLC raised its stake in shares of AstraZeneca by 56.3% during the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after purchasing an additional 178 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of AstraZeneca during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Up 0.8 %

Shares of AstraZeneca stock traded up $0.61 during midday trading on Friday, hitting $81.81. The company’s stock had a trading volume of 7,066,599 shares, compared to its average volume of 4,275,103. The firm has a market capitalization of $253.65 billion, a P/E ratio of 40.10, a PEG ratio of 1.54 and a beta of 0.45. The stock has a 50-day simple moving average of $78.68 and a 200-day simple moving average of $72.28. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. AstraZeneca PLC has a 1-year low of $60.47 and a 1-year high of $82.01.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The business had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share. As a group, sell-side analysts expect that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 9th. Investors of record on Friday, August 9th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio is 48.04%.

Analyst Ratings Changes

AZN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Argus lifted their price objective on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. BMO Capital Markets lifted their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. The Goldman Sachs Group assumed coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock. Finally, Citigroup upgraded shares of AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $88.00.

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.