Flputnam Investment Management Co. Purchases 56,259 Shares of AstraZeneca PLC (NASDAQ:AZN)

Flputnam Investment Management Co. grew its position in AstraZeneca PLC (NASDAQ:AZN) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,574 shares of the company’s stock after acquiring an additional 56,259 shares during the period. Flputnam Investment Management Co.’s holdings in AstraZeneca were worth $19,235,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AZN. Dynasty Wealth Management LLC bought a new position in AstraZeneca during the fourth quarter worth about $787,000. Motco lifted its position in shares of AstraZeneca by 0.8% in the fourth quarter. Motco now owns 66,593 shares of the company’s stock valued at $4,363,000 after buying an additional 537 shares during the last quarter. First American Bank boosted its stake in shares of AstraZeneca by 5.7% during the 4th quarter. First American Bank now owns 20,314 shares of the company’s stock worth $1,331,000 after acquiring an additional 1,091 shares during the period. Altrius Capital Management Inc increased its holdings in shares of AstraZeneca by 5.8% during the 4th quarter. Altrius Capital Management Inc now owns 115,153 shares of the company’s stock worth $7,545,000 after acquiring an additional 6,363 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in AstraZeneca by 6,835.8% in the 4th quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company’s stock valued at $46,389,000 after acquiring an additional 697,801 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $76.21 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.93 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 company’s 50 day moving average price is $69.75 and its two-hundred day moving average price is $73.07. The firm has a market cap of $236.34 billion, a PE ratio of 33.72, a PEG ratio of 1.42 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Equities research analysts predict 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 will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a dividend of $1.03 per share. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a dividend yield of 2%. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio is currently 91.15%.

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.