Pointe Capital Management LLC Boosts Stock Position in AstraZeneca PLC (NASDAQ:AZN)

Pointe Capital Management LLC raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 23.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,729 shares of the company’s stock after buying an additional 1,275 shares during the quarter. Pointe Capital Management LLC’s holdings in AstraZeneca were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Crumly & Associates Inc. lifted its position in shares of AstraZeneca by 2.2% in the 3rd quarter. Crumly & Associates Inc. now owns 6,644 shares of the company’s stock worth $518,000 after purchasing an additional 143 shares during the period. Diversify Wealth Management LLC raised its stake in AstraZeneca by 3.6% in the fourth quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock worth $295,000 after buying an additional 153 shares in the last quarter. Veery Capital LLC lifted its holdings in AstraZeneca by 4.7% in the fourth quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock worth $230,000 after buying an additional 157 shares during the period. Harbour Investments Inc. boosted its position in AstraZeneca by 1.9% during the 3rd quarter. Harbour Investments Inc. now owns 8,805 shares of the company’s stock valued at $686,000 after acquiring an additional 160 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in shares of AstraZeneca by 1.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock worth $788,000 after acquiring an additional 175 shares during the period. Institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AZN. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Stock Performance

Shares of AstraZeneca stock opened at $75.40 on Wednesday. The stock has a market cap of $233.83 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.42 and a beta of 0.46. 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 PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The firm’s 50-day moving average is $69.09 and its 200 day moving average is $73.08.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Sell-side analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be issued a $1.03 dividend. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a dividend yield of 2%. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

AstraZeneca Profile

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.