Harvest Fund Management Co. Ltd Buys 7,447 Shares of AstraZeneca PLC (NASDAQ:AZN)

Harvest Fund Management Co. Ltd boosted its stake in AstraZeneca PLC (NASDAQ:AZN) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,270 shares of the company’s stock after purchasing an additional 7,447 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in AstraZeneca were worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Cibc World Markets Corp boosted its stake in AstraZeneca by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 12,901 shares of the company’s stock worth $845,000 after purchasing an additional 142 shares during the period. Diversify Wealth Management LLC boosted its stake in AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after purchasing an additional 153 shares during the period. Veery Capital LLC boosted its stake in AstraZeneca by 4.7% in the 4th quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock worth $230,000 after purchasing an additional 157 shares during the period. Rehmann Capital Advisory Group boosted its stake in AstraZeneca by 1.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock worth $788,000 after purchasing an additional 175 shares during the period. Finally, Hardy Reed LLC raised its holdings in shares of AstraZeneca by 5.9% in the 3rd quarter. Hardy Reed LLC now owns 3,182 shares of the company’s stock valued at $248,000 after acquiring an additional 178 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

Analysts Set New Price Targets

AZN has been the topic of several recent analyst reports. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $76.32 on Thursday. The stock has a market cap of $236.68 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 1-year low of $62.75 and a 1-year high of $87.68. The stock’s 50-day moving average is $72.47 and its 200 day moving average is $72.16.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share 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%. On average, sell-side analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, March 24th. Investors of record on Friday, February 21st will be issued a dividend of $1.03 per share. This represents a dividend yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is currently 91.15%.

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.