Tidal Investments LLC Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

Tidal Investments LLC purchased a new stake in AstraZeneca PLC (NASDAQ:AZN – Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,833 shares of the company’s stock, valued at approximately $327,000.

A number of other hedge funds have also modified their holdings of the company. Cerity Partners LLC raised its position in AstraZeneca by 113.0% in the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock worth $6,444,000 after purchasing an additional 50,750 shares in the last quarter. Assetmark Inc. grew its holdings in shares of AstraZeneca by 11.2% in the fourth quarter. Assetmark Inc. now owns 154,906 shares of the company’s stock worth $10,433,000 after purchasing an additional 15,642 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of AstraZeneca during the fourth quarter valued at about $10,395,000. Cox Capital Mgt LLC purchased a new position in shares of AstraZeneca in the first quarter valued at about $2,683,000. Finally, TD Asset Management Inc raised its stake in shares of AstraZeneca by 8.6% in the first quarter. TD Asset Management Inc now owns 1,537,410 shares of the company’s stock valued at $104,160,000 after buying an additional 121,876 shares during the period. 20.35% of the shares are held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

AZN has been the subject of several analyst reports. BMO Capital Markets upped their target price on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Finally, Goldman Sachs Group initiated coverage on shares of AstraZeneca in a research report on Thursday, May 30th. They set a “buy” rating and a $97.00 price target for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $88.00.

Read our latest report on AstraZeneca

AstraZeneca trading down 0.2%

AZN traded down $0.16 on Friday, reaching $81.19. 3,078,360 shares of the company’s stock traded hands, compared to its average volume of 5,345,006. AstraZeneca PLC has a twelve month low of $60.47 and a twelve month high of $82.01. The company’s 50-day moving average is $79.00, and its 200-day moving average is $72.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69, and a current ratio of 0.89. The company has a market cap of $251.73 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 1.50 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. AstraZeneca had a net margin of 13.11% and a return on equity of 29.34%. The company had revenue of $12.45 billion during the quarter, compared to analyst estimates of $12.62 billion. In the same quarter last year, the company earned $1.08 per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. equities analysts anticipate that AstraZeneca PLC will post 4.05 earnings per share for the current year.

AstraZeneca cuts dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9. This represents a dividend yield of 1.8%. AstraZeneca’s dividend payout ratio (DPR) is currently 48.04%.

AstraZeneca profile

(Free Report)

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, Symbilocort, Teztri Saspireph, , Pulmicort, Bevespi and Daliresp for cardiovascular, renal, metabolism and oncology.

See Also

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