Sit Investment Associates Inc. Reduces Position in AstraZeneca PLC (NASDAQ:AZN)

Sit Investment Associates Inc. decreased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,850 shares of the company’s stock after selling 73,050 shares during the quarter. Sit Investment Associates Inc.’s holdings in AstraZeneca were worth $10,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AZN. Albion Financial Group UT grew its holdings in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after acquiring an additional 248 shares during the period. Groupama Asset Managment boosted its position in AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after purchasing an additional 101,225 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of AstraZeneca by 2,618.5% during the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after purchasing an additional 707 shares during the period. Crews Bank & Trust purchased a new stake in shares of AstraZeneca during the 4th quarter valued at about $55,000. Finally, Golden State Wealth Management LLC bought a new position in shares of AstraZeneca in the 4th quarter worth approximately $55,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

NASDAQ AZN opened at $68.46 on Friday. 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 PLC has a 12 month low of $62.75 and a 12 month high of $87.68. The stock has a market cap of $212.31 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.42 and a beta of 0.49. The company’s 50 day moving average is $73.96 and its two-hundred day moving average is $71.48.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data 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%. As a group, research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were given a $1.03 dividend. This represents a dividend yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s payout ratio is presently 91.15%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZN. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. 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 investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $89.75.

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.