NewEdge Wealth LLC Boosts Stock Position in AstraZeneca PLC $AZN

NewEdge Wealth LLC lifted its stake in AstraZeneca PLC (NASDAQ:AZN) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,461 shares of the company’s stock after purchasing an additional 2,823 shares during the quarter. NewEdge Wealth LLC’s holdings in AstraZeneca were worth $3,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZN. Redmont Wealth Advisors LLC acquired a new stake in shares of AstraZeneca in the 3rd quarter worth $54,000. CenterBook Partners LP purchased a new stake in shares of AstraZeneca in the third quarter valued at about $2,398,000. Syon Capital LLC increased its position in AstraZeneca by 7.5% during the third quarter. Syon Capital LLC now owns 23,007 shares of the company’s stock worth $1,765,000 after purchasing an additional 1,603 shares during the last quarter. Axxcess Wealth Management LLC increased its position in AstraZeneca by 17.7% during the third quarter. Axxcess Wealth Management LLC now owns 23,530 shares of the company’s stock worth $1,805,000 after purchasing an additional 3,541 shares during the last quarter. Finally, May Hill Capital LLC raised its stake in AstraZeneca by 6.9% during the third quarter. May Hill Capital LLC now owns 9,827 shares of the company’s stock worth $754,000 after purchasing an additional 634 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 2.0%

NASDAQ:AZN opened at $204.45 on Friday. AstraZeneca PLC has a 52 week low of $122.48 and a 52 week high of $212.71. The stock’s fifty day moving average is $124.40 and its two-hundred day moving average is $97.43. The stock has a market capitalization of $317.09 billion, a price-to-earnings ratio of 67.92, a price-to-earnings-growth ratio of 1.59 and a beta of 0.34. 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 Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be given a $1.595 dividend. This represents a yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca’s payout ratio is currently 74.83%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AZN shares. Guggenheim reissued a “buy” rating on shares of AstraZeneca in a research note on Wednesday, December 3rd. Jefferies Financial Group started coverage on AstraZeneca in a report on Monday, October 27th. They issued a “buy” rating on the stock. Wall Street Zen cut AstraZeneca from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Citigroup started coverage on AstraZeneca in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. Finally, TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.75.

About AstraZeneca

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.