Nomura Asset Management Co. Ltd. Sells 66,990 Shares of AstraZeneca PLC (NASDAQ:AZN)

Nomura Asset Management Co. Ltd. trimmed its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 76.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,180 shares of the company’s stock after selling 66,990 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in AstraZeneca were worth $1,322,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Albion Financial Group UT lifted its stake in shares of AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of 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 purchasing an additional 101,225 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of AstraZeneca by 2,618.5% during the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock worth $48,000 after purchasing an additional 707 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of AstraZeneca in the fourth quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in AstraZeneca during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley assumed coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating on the stock. One investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Down 0.5 %

Shares of NASDAQ:AZN opened at $72.22 on Thursday. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The business’s 50-day moving average is $73.86 and its 200-day moving average is $71.54. The company has a market capitalization of $223.97 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (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%. Equities research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were issued a $1.03 dividend. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

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.