2,416,672 Shares in AstraZeneca PLC (NASDAQ:AZN) Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,416,672 shares of the company’s stock, valued at approximately $188,476,000. AstraZeneca makes up about 2.1% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in AstraZeneca by 17.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,271,974 shares of the company’s stock valued at $4,151,177,000 after acquiring an additional 9,002,450 shares during the period. Sanders Capital LLC lifted its holdings in shares of AstraZeneca by 39.0% during the 4th quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock valued at $988,972,000 after purchasing an additional 4,122,965 shares in the last quarter. Swedbank AB acquired a new position in shares of AstraZeneca in the 1st quarter valued at approximately $186,127,000. Norges Bank acquired a new position in shares of AstraZeneca in the 4th quarter valued at approximately $143,999,000. Finally, Clearbridge Investments LLC increased its stake in AstraZeneca by 118.9% during the 4th quarter. Clearbridge Investments LLC now owns 3,592,447 shares of the company’s stock worth $241,951,000 after purchasing an additional 1,951,591 shares in the last quarter. 20.35% of the stock is owned by institutional investors.

AstraZeneca Stock Down 0.8 %

AZN stock traded down $0.66 during mid-day trading on Friday, reaching $81.19. The company had a trading volume of 3,078,355 shares, compared to its average volume of 5,345,006. The company has a market capitalization of $251.73 billion, a price-to-earnings ratio of 40.12, a PEG ratio of 1.50 and a beta of 0.45. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $82.01. The stock has a 50 day simple moving average of $78.94 and a two-hundred day simple moving average of $72.66. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 earnings per share for the quarter, beating 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 business had revenue of $12.45 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the business earned $1.08 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts predict that AstraZeneca PLC will post 4.05 earnings per share for the current fiscal 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 issued a $0.49 dividend. The ex-dividend date is Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s payout ratio is 48.04%.

Analyst Upgrades and Downgrades

AZN has been the subject of several research analyst reports. Barclays upgraded shares of AstraZeneca to a “strong-buy” rating in a 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. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. The Goldman Sachs Group started coverage on AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 target price on the stock. Finally, BMO Capital Markets upped their price target on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca presently has a consensus rating of “Buy” and an average price target of $88.00.

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.