Iams Wealth Management LLC Trims Holdings in AstraZeneca PLC (NASDAQ:AZN)

Iams Wealth Management LLC trimmed its position in AstraZeneca PLC (NASDAQ:AZN) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,711 shares of the company’s stock after selling 179 shares during the quarter. Iams Wealth Management LLC’s holdings in AstraZeneca were worth $1,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in AstraZeneca by 8.0% during the 3rd quarter. Creative Planning now owns 224,751 shares of the company’s stock valued at $17,510,000 after buying an additional 16,692 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in AstraZeneca by 7.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 78,731 shares of the company’s stock valued at $6,134,000 after buying an additional 5,232 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in AstraZeneca by 7.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 7,164 shares of the company’s stock valued at $558,000 after buying an additional 486 shares in the last quarter. Grove Bank & Trust grew its holdings in AstraZeneca by 3.4% during the 3rd quarter. Grove Bank & Trust now owns 11,399 shares of the company’s stock valued at $888,000 after buying an additional 378 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in AstraZeneca by 26.0% during the 3rd quarter. ORG Partners LLC now owns 1,220 shares of the company’s stock valued at $95,000 after buying an additional 252 shares in the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZN has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Barclays raised shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. TD Cowen increased their target price on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Erste Group Bank upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AstraZeneca presently has a consensus rating of “Moderate Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.0 %

Shares of AZN opened at $78.10 on Tuesday. The company has a market cap of $242.15 billion, a PE ratio of 38.28, a P/E/G ratio of 1.42 and a beta of 0.46. The business has a fifty day moving average of $81.34 and a 200 day moving average of $77.97. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $87.68. 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 (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The business had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that AstraZeneca PLC will post 4.07 EPS for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio is currently 48.04%.

AstraZeneca Company 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.