Kestra Investment Management LLC Takes Position in AstraZeneca PLC (NASDAQ:AZN)

Kestra Investment Management LLC bought a new stake in shares of AstraZeneca PLC (NASDAQ:AZN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,647 shares of the company’s stock, valued at approximately $173,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of AstraZeneca by 109.6% during the 3rd quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock valued at $238,397,000 after acquiring an additional 1,605,758 shares during the last quarter. Franklin Resources Inc. raised its position in shares of AstraZeneca by 8.7% during the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock worth $1,492,649,000 after purchasing an additional 1,522,715 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of AstraZeneca during the third quarter valued at $72,437,000. Manning & Napier Advisors LLC boosted its position in shares of AstraZeneca by 17.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock valued at $245,407,000 after purchasing an additional 564,297 shares during the period. Finally, Fisher Asset Management LLC increased its stake in AstraZeneca by 5.3% in the 3rd quarter. Fisher Asset Management LLC now owns 10,480,160 shares of the company’s stock worth $816,509,000 after purchasing an additional 524,175 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

AZN stock opened at $74.56 on Friday. The stock has a market cap of $231.22 billion, a P/E ratio of 32.99, a P/E/G ratio of 1.44 and a beta of 0.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93. The firm has a 50 day simple moving average of $68.60 and a 200 day simple moving average of $73.30. AstraZeneca PLC has a 52 week low of $62.75 and a 52 week high of $87.68.

AstraZeneca (NASDAQ:AZN) last issued its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Research analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is 43.36%.

Analyst Ratings Changes

A number of research firms have commented on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley began coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AstraZeneca currently has a consensus rating of “Buy” and an average price target of $89.75.

About AstraZeneca

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.