Patten Group Inc. Decreases Stake in AstraZeneca PLC (NASDAQ:AZN)

Patten Group Inc. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,293 shares of the company’s stock after selling 1,574 shares during the period. Patten Group Inc.’s holdings in AstraZeneca were worth $3,361,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AZN. Capital Performance Advisors LLP bought a new stake in shares of AstraZeneca in the 3rd quarter worth about $28,000. Albion Financial Group UT increased its holdings in AstraZeneca by 68.9% in the fourth 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. Groupama Asset Managment raised its stake in AstraZeneca by 22.9% during the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after buying an additional 101,225 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in AstraZeneca during the 3rd quarter worth approximately $45,000. Finally, Versant Capital Management Inc grew its position in shares of AstraZeneca by 2,618.5% in the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after acquiring an additional 707 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AZN. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Trading Down 0.1 %

AstraZeneca stock opened at $76.10 on Tuesday. AstraZeneca PLC has a 52-week low of $62.75 and a 52-week high of $87.68. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $236.00 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 1.42 and a beta of 0.46. The firm has a 50-day moving average price of $69.94 and a two-hundred day moving average price of $72.86.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Sell-side analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The business 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. The ex-dividend date is Friday, February 21st. This represents a yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio is presently 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.