Envestnet Portfolio Solutions Inc. Acquires 11,078 Shares of AstraZeneca PLC (NASDAQ:AZN)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 8.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,377 shares of the company’s stock after acquiring an additional 11,078 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in AstraZeneca were worth $10,636,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AZN. GPS Wealth Strategies Group LLC lifted its position in AstraZeneca by 3.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,718 shares of the company’s stock worth $446,000 after acquiring an additional 185 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in AstraZeneca during the 2nd quarter worth $215,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of AstraZeneca by 2.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 186,152 shares of the company’s stock worth $14,518,000 after buying an additional 4,551 shares in the last quarter. Diversified Trust Co boosted its position in shares of AstraZeneca by 22.7% in the second quarter. Diversified Trust Co now owns 5,330 shares of the company’s stock valued at $416,000 after acquiring an additional 987 shares during the period. Finally, Traveka Wealth LLC grew its stake in shares of AstraZeneca by 16.3% in the second quarter. Traveka Wealth LLC now owns 6,016 shares of the company’s stock valued at $469,000 after acquiring an additional 845 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Price Performance

AZN stock traded up $1.42 during midday trading on Thursday, reaching $85.18. 2,424,145 shares of the stock were exchanged, compared to its average volume of 5,363,581. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. The stock has a market capitalization of $264.10 billion, a PE ratio of 41.06, a P/E/G ratio of 1.53 and a beta of 0.45. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $85.22. The company has a fifty day moving average price of $79.21 and a 200 day moving average price of $73.14.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. The company had revenue of $12.45 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that AstraZeneca PLC will post 4.05 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a dividend yield of 1.8%. AstraZeneca’s payout ratio is 48.04%.

Analysts Set New Price Targets

AZN has been the topic of a number of analyst reports. BMO Capital Markets increased their target price on shares of AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. Barclays upgraded AstraZeneca to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group assumed coverage on AstraZeneca in a research report on Thursday, May 30th. They issued a “buy” rating and a $97.00 price target on the stock. Finally, TD Cowen upped their price objective on shares of AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, AstraZeneca has a consensus rating of “Buy” and an average price target of $89.75.

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.