MQS Management LLC Trims Stock Holdings in AstraZeneca PLC $AZN

MQS Management LLC reduced its stake in AstraZeneca PLC (NASDAQ:AZN) by 6.1% during the 2nd quarter, Holdings Channel reports. The fund owned 5,396 shares of the company’s stock after selling 352 shares during the period. MQS Management LLC’s holdings in AstraZeneca were worth $377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after acquiring an additional 289 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of AstraZeneca by 59.8% in the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after acquiring an additional 149 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of AstraZeneca in the first quarter valued at $29,000. Maseco LLP purchased a new stake in shares of AstraZeneca in the second quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of AstraZeneca in the first quarter valued at $37,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AZN. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Finally, Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, AstraZeneca presently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $83.29 on Monday. The firm has a market capitalization of $258.32 billion, a PE ratio of 31.31, a P/E/G ratio of 1.54 and a beta of 0.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The business has a 50-day moving average of $80.87 and a two-hundred day moving average of $74.46. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $86.57.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. As a group, research analysts forecast that AstraZeneca PLC will post 4.51 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were paid a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a yield of 200.0%. AstraZeneca’s dividend payout ratio is currently 37.97%.

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.