Concurrent Investment Advisors LLC Boosts Position in AstraZeneca PLC (NASDAQ:AZN)

Concurrent Investment Advisors LLC raised its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 33.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,925 shares of the company’s stock after buying an additional 4,240 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in AstraZeneca were worth $1,109,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Martin Investment Management LLC grew its holdings in AstraZeneca by 2.8% during the 3rd quarter. Martin Investment Management LLC now owns 284,204 shares of the company’s stock valued at $22,571,000 after buying an additional 7,615 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of AstraZeneca during the 4th quarter valued at about $754,000. Diversify Wealth Management LLC boosted its position in shares of AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after acquiring an additional 153 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in shares of AstraZeneca by 25.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock valued at $622,000 after acquiring an additional 1,949 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in shares of AstraZeneca by 46.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 43,610 shares of the company’s stock valued at $3,398,000 after acquiring an additional 13,860 shares during the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

NASDAQ:AZN opened at $74.20 on Friday. The business has a 50 day moving average of $68.76 and a 200 day moving average of $73.22. The company has a market capitalization of $230.11 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 1.43 and a beta of 0.46. AstraZeneca PLC has a 1-year low of $62.75 and a 1-year high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74.

AstraZeneca (NASDAQ:AZN) last released its earnings results 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 return on equity of 32.23% and a net margin of 13.01%. On average, sell-side analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently disclosed 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. The ex-dividend date 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 presently 43.36%.

Analyst Upgrades and Downgrades

AZN has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft upgraded AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price 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.