Envestnet Portfolio Solutions Inc. Purchases 6,853 Shares of AstraZeneca PLC (NASDAQ:AZN)

Envestnet Portfolio Solutions Inc. boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,769 shares of the company’s stock after buying an additional 6,853 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AstraZeneca were worth $9,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Albion Financial Group UT raised its holdings in AstraZeneca by 68.9% in the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares in the last quarter. Groupama Asset Managment raised its holdings in AstraZeneca by 22.9% in the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after purchasing an additional 101,225 shares in the last quarter. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 707 shares in the last quarter. Crews Bank & Trust bought a new position in AstraZeneca in the 4th quarter worth $55,000. Finally, Golden State Wealth Management LLC bought a new position in AstraZeneca in the 4th quarter worth $55,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AZN shares. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They issued 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 stock. According to data from MarketBeat, AstraZeneca presently has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Down 0.3 %

Shares of AstraZeneca stock opened at $77.37 on Tuesday. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The company has a 50-day moving average of $72.07 and a 200 day moving average of $72.20. The firm has a market cap of $239.94 billion, a price-to-earnings ratio of 34.23, a PEG ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

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, sell-side analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

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