Capital Wealth Planning LLC Decreases Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Capital Wealth Planning LLC cut its stake in AstraZeneca PLC (NASDAQ:AZN) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,802 shares of the company’s stock after selling 2,820 shares during the period. Capital Wealth Planning LLC’s holdings in AstraZeneca were worth $3,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in AstraZeneca by 109.6% in the third quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock valued at $238,397,000 after buying an additional 1,605,758 shares in the last quarter. Franklin Resources Inc. raised its stake in AstraZeneca by 8.7% in the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock valued at $1,492,649,000 after buying an additional 1,522,715 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in AstraZeneca in the third quarter valued at $72,437,000. Proficio Capital Partners LLC raised its stake in AstraZeneca by 6,835.8% in the fourth quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company’s stock valued at $46,389,000 after buying an additional 697,801 shares in the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in AstraZeneca by 17.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock valued at $245,407,000 after buying an additional 564,297 shares in the last quarter. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AZN shares. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. One equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $89.75.

AstraZeneca Stock Performance

Shares of AZN stock opened at $76.21 on Friday. The stock has a market capitalization of $236.34 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. AstraZeneca PLC has a 52-week low of $62.75 and a 52-week high of $87.68. The stock’s 50-day moving average price is $69.75 and its 200 day moving average price is $73.00. 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 (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%. As a group, equities research analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be given a $1.03 dividend. This represents a yield of 2%. The ex-dividend date of this dividend is Friday, February 21st. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is 91.15%.

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.