AstraZeneca PLC (NASDAQ:AZN) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 220,767 shares of the company’s stock after selling 2,478 shares during the period. QRG Capital Management Inc.’s holdings in AstraZeneca were worth $14,465,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can boosted its position in AstraZeneca by 109.6% during the 3rd quarter. Bank of Montreal Can now owns 3,071,333 shares of the company’s stock worth $238,397,000 after purchasing an additional 1,605,758 shares during the period. Franklin Resources Inc. boosted its position in AstraZeneca by 8.7% during the 3rd 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 position in AstraZeneca in the 3rd quarter valued at about $72,437,000. Proficio Capital Partners LLC boosted its position in AstraZeneca by 6,835.8% in the 4th quarter. Proficio Capital Partners LLC now owns 708,009 shares of the company’s stock valued at $46,389,000 after buying an additional 697,801 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its position in 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 buying an additional 564,297 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

AZN opened at $75.65 on Friday. The firm has a market cap of $234.60 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. AstraZeneca PLC has a fifty-two week low of $62.75 and a fifty-two week high of $87.68. The company’s 50-day moving average price is $69.53 and its 200 day moving average price is $73.11. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, sell-side analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current 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 given a $1.03 dividend. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is 91.15%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One 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 MarketBeat.com, the stock presently has an average 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.