Naviter Wealth LLC Has $5.52 Million Position in Astrazeneca Plc $AZN

Naviter Wealth LLC reduced its stake in shares of Astrazeneca Plc (NYSE:AZN) by 16.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 60,013 shares of the company’s stock after selling 12,014 shares during the quarter. Astrazeneca comprises about 0.7% of Naviter Wealth LLC’s investment portfolio, making the stock its 26th largest position. Naviter Wealth LLC’s holdings in Astrazeneca were worth $5,517,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Astrazeneca in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank grew its position in shares of Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after purchasing an additional 154 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Astrazeneca in the 3rd quarter valued at approximately $31,000. YANKCOM Partnership acquired a new position in shares of Astrazeneca in the 4th quarter valued at approximately $31,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Astrazeneca in the 3rd quarter valued at approximately $35,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZN has been the subject of several research analyst reports. Wall Street Zen lowered Astrazeneca from a “buy” rating to a “hold” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Astrazeneca in a research note on Friday, February 6th. Weiss Ratings initiated coverage on Astrazeneca in a research note on Wednesday, March 11th. They issued a “buy (b)” rating on the stock. Citigroup initiated coverage on Astrazeneca in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. Finally, Barclays restated an “overweight” rating on shares of Astrazeneca in a research note on Tuesday, January 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.75.

Astrazeneca Stock Performance

NYSE AZN opened at $200.71 on Wednesday. The company has a market capitalization of $311.28 billion, a price-to-earnings ratio of 30.64, a PEG ratio of 1.53 and a beta of 0.35. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51. Astrazeneca Plc has a 52 week low of $122.48 and a 52 week high of $212.71.

Astrazeneca Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, February 20th were paid a $1.595 dividend. The ex-dividend date was Friday, February 20th. This represents a yield of 156.0%. Astrazeneca’s payout ratio is presently 66.26%.

About Astrazeneca

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.