Cinctive Capital Management LP Grows Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Cinctive Capital Management LP grew its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 88.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,653 shares of the company’s stock after buying an additional 39,718 shares during the period. Cinctive Capital Management LP’s holdings in AstraZeneca were worth $5,546,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp grew 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 valued at $845,000 after buying an additional 142 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after acquiring an additional 153 shares during the period. Veery Capital LLC grew its position in shares of AstraZeneca by 4.7% in the fourth quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of AstraZeneca by 1.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock valued at $788,000 after purchasing an additional 175 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in AstraZeneca by 0.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 35,300 shares of the company’s stock worth $2,313,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.5 %

Shares of NASDAQ AZN opened at $72.22 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $73.86 and a 200-day moving average of $71.54. The firm has a market capitalization of $223.97 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.42 and a beta of 0.41. AstraZeneca PLC has a 12 month low of $62.75 and a 12 month high of $87.68.

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

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, February 21st were given a dividend of $1.03 per share. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend was Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley began coverage on AstraZeneca in a report on Wednesday, February 12th. They set an “overweight” rating for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AstraZeneca currently has a consensus rating of “Buy” and a consensus 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.