Naviter Wealth LLC Sells 550 Shares of AstraZeneca PLC (NASDAQ:AZN)

Naviter Wealth LLC decreased its stake in AstraZeneca PLC (NASDAQ:AZN) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,580 shares of the company’s stock after selling 550 shares during the quarter. Naviter Wealth LLC’s holdings in AstraZeneca were worth $5,421,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AZN. Virtu Financial LLC purchased a new position in shares of AstraZeneca in the 4th quarter worth approximately $276,000. Integrated Advisors Network LLC boosted its holdings in AstraZeneca by 5.5% during the 4th quarter. Integrated Advisors Network LLC now owns 6,513 shares of the company’s stock valued at $439,000 after acquiring an additional 342 shares during the period. American International Group Inc. boosted its holdings in AstraZeneca by 2.0% during the 4th quarter. American International Group Inc. now owns 40,464 shares of the company’s stock valued at $2,725,000 after acquiring an additional 775 shares during the period. SageView Advisory Group LLC purchased a new position in AstraZeneca during the 4th quarter valued at $436,000. Finally, GAMMA Investing LLC boosted its holdings in AstraZeneca by 21.1% during the 1st quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock valued at $241,000 after acquiring an additional 619 shares during the period. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.4 %

AZN traded down $0.32 on Thursday, hitting $77.99. 377,262 shares of the company were exchanged, compared to its average volume of 5,071,330. 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 PLC has a twelve month low of $60.47 and a twelve month high of $87.68. The company has a market cap of $241.81 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.46. The firm has a 50-day moving average price of $81.26 and a two-hundred day moving average price of $78.04.

AstraZeneca (NASDAQ:AZN) 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 return on equity of 29.34% and a net margin of 13.11%. The company had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.62 billion. During the same quarter last year, the company posted $1.08 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that AstraZeneca PLC will post 4.07 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, September 9th. Investors of record on Friday, August 9th were given a $0.49 dividend. The ex-dividend date was Friday, August 9th. This represents a yield of 1.8%. AstraZeneca’s payout ratio is currently 47.34%.

Wall Street Analysts Forecast Growth

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

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.