AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in AstraZeneca PLC (NASDAQ:AZN) by 5.7% during the third quarter, Holdings Channel.com reports. The fund owned 2,429,269 shares of the company’s stock after selling 147,467 shares during the period. Raymond James & Associates’ holdings in AstraZeneca were worth $189,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. acquired a new stake in shares of AstraZeneca during the second quarter worth approximately $26,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca during the 1st quarter worth about $29,000. Hobbs Group Advisors LLC acquired a new stake in AstraZeneca during the 2nd quarter worth about $35,000. Versant Capital Management Inc increased its holdings in shares of AstraZeneca by 1,614.8% in the 2nd quarter. Versant Capital Management Inc now owns 463 shares of the company’s stock valued at $36,000 after purchasing an additional 436 shares during the period. Finally, RFP Financial Group LLC grew its stake in shares of AstraZeneca by 56.3% in the 1st quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock valued at $33,000 after buying an additional 178 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $78.26 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $242.65 billion, a P/E ratio of 37.81, a P/E/G ratio of 1.45 and a beta of 0.46. The business has a fifty day simple moving average of $81.13 and a two-hundred day simple moving average of $78.20. AstraZeneca PLC has a 12 month low of $60.47 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $1.08 EPS. On average, equities analysts forecast that AstraZeneca PLC will post 4.07 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Stockholders of record on Friday, August 9th were given 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 47.34%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Erste Group Bank raised shares of AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Barclays raised AstraZeneca to a “strong-buy” rating in a research note 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 note on Monday, August 12th. Finally, Citigroup raised AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and a consensus target price of $89.75.

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.