Patriot Investment Management Group Inc. Cuts Holdings in AstraZeneca PLC (NASDAQ:AZN)

Patriot Investment Management Group Inc. reduced its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,857 shares of the company’s stock after selling 665 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in AstraZeneca were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Martin Investment Management LLC lifted its stake in AstraZeneca by 2.8% in the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock valued at $22,571,000 after buying an additional 7,615 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of AstraZeneca in the fourth quarter worth approximately $754,000. Ameritas Advisory Services LLC increased its position in shares of AstraZeneca by 25.9% during the fourth quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock worth $622,000 after purchasing an additional 1,949 shares in the last quarter. Diversify Wealth Management LLC raised its stake in AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after purchasing an additional 153 shares during the last quarter. Finally, Integrated Advisors Network LLC lifted its holdings in AstraZeneca by 46.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock valued at $3,398,000 after purchasing an additional 13,860 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $69.06 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.93. The company has a 50 day moving average price of $66.33 and a 200 day moving average price of $74.24. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $87.68. The stock has a market capitalization of $214.16 billion, a P/E ratio of 33.04, a PEG ratio of 1.13 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $13.08 billion. AstraZeneca had a net margin of 12.68% and a return on equity of 30.01%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. Equities research analysts forecast that AstraZeneca PLC will post 4.12 EPS for the current year.

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.