Iams Wealth Management LLC Cuts Stake in AstraZeneca PLC (NASDAQ:AZN)

Iams Wealth Management LLC lessened its stake in AstraZeneca PLC (NASDAQ:AZN) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,711 shares of the company’s stock after selling 179 shares during the quarter. Iams Wealth Management LLC’s holdings in AstraZeneca were worth $1,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZN. Virtu Financial LLC purchased a new position in AstraZeneca in the fourth quarter valued at about $276,000. Integrated Advisors Network LLC boosted its holdings in AstraZeneca by 5.5% in the fourth quarter. Integrated Advisors Network LLC now owns 6,513 shares of the company’s stock worth $439,000 after acquiring an additional 342 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in AstraZeneca by 11.7% in the fourth quarter. EP Wealth Advisors LLC now owns 17,481 shares of the company’s stock worth $1,177,000 after acquiring an additional 1,837 shares in the last quarter. American International Group Inc. boosted its holdings in AstraZeneca by 2.0% in the fourth quarter. American International Group Inc. now owns 40,464 shares of the company’s stock worth $2,725,000 after acquiring an additional 775 shares in the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in AstraZeneca in the fourth quarter worth about $436,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Citigroup raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a report on Friday, September 13th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, TD Cowen lifted their target price on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.75.

AstraZeneca Trading Up 1.0 %

Shares of NASDAQ:AZN opened at $78.10 on Tuesday. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $87.68. The company has a market capitalization of $242.15 billion, a PE ratio of 38.28, a PEG ratio of 1.42 and a beta of 0.46. The business has a 50 day moving average of $81.34 and a two-hundred day moving average of $77.97. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $1.08 earnings per share. AstraZeneca’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that AstraZeneca PLC will post 4.07 EPS for the current year.

AstraZeneca Cuts Dividend

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

AstraZeneca Company 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.