Westover Capital Advisors LLC Invests $510,000 in AstraZeneca PLC $AZN

Westover Capital Advisors LLC acquired a new stake in AstraZeneca PLC (NASDAQ:AZN) in the 3rd quarter, Holdings Channel reports. The firm acquired 6,649 shares of the company’s stock, valued at approximately $510,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Primecap Management Co. CA boosted its holdings in AstraZeneca by 1.3% in the 2nd quarter. Primecap Management Co. CA now owns 41,200,091 shares of the company’s stock valued at $2,879,062,000 after purchasing an additional 538,606 shares during the period. Franklin Resources Inc. raised its position in shares of AstraZeneca by 0.9% during the second quarter. Franklin Resources Inc. now owns 21,298,394 shares of the company’s stock valued at $1,488,332,000 after buying an additional 196,401 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of AstraZeneca by 2.6% during the second quarter. Fisher Asset Management LLC now owns 20,695,979 shares of the company’s stock valued at $1,446,235,000 after buying an additional 530,520 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of AstraZeneca by 15.2% in the second quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock valued at $850,255,000 after buying an additional 1,605,133 shares during the period. Finally, Ameriprise Financial Inc. grew its position in AstraZeneca by 2.1% during the second quarter. Ameriprise Financial Inc. now owns 5,046,992 shares of the company’s stock worth $351,734,000 after buying an additional 104,625 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Up 5.6%

Shares of AstraZeneca stock opened at $204.22 on Thursday. AstraZeneca PLC has a 12-month low of $122.48 and a 12-month high of $204.92. The stock has a market capitalization of $316.73 billion, a P/E ratio of 67.85, a price-to-earnings-growth ratio of 1.59 and a beta of 0.34. The company has a 50-day simple moving average of $108.12 and a 200 day simple moving average of $91.09. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54.

AstraZeneca Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be paid a $1.595 dividend. The ex-dividend date is Friday, February 20th. This represents a dividend yield of 165.0%. AstraZeneca’s payout ratio is 34.77%.

Analyst Upgrades and Downgrades

AZN has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on AstraZeneca in a report on Monday, October 27th. They issued a “buy” rating for the company. HSBC reaffirmed a “buy” rating and issued a $108.00 target price on shares of AstraZeneca in a research report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Citigroup began coverage on shares of AstraZeneca in a report on Tuesday, January 27th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of AstraZeneca in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Profile

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.