Howe & Rusling Inc. Reduces Stock Position in AstraZeneca PLC $AZN

Howe & Rusling Inc. lessened its stake in AstraZeneca PLC (NASDAQ:AZN) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,186 shares of the company’s stock after selling 3,926 shares during the quarter. Howe & Rusling Inc.’s holdings in AstraZeneca were worth $8,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in shares of AstraZeneca by 149.3% in the 2nd quarter. NewSquare Capital LLC now owns 364 shares of the company’s stock worth $25,000 after acquiring an additional 218 shares during the last quarter. Larson Financial Group LLC grew its holdings 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 purchasing an additional 289 shares during the period. Richardson Financial Services Inc. increased its position in AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock worth $28,000 after purchasing an additional 149 shares during the last quarter. Costello Asset Management INC acquired a new stake in AstraZeneca during the first quarter worth about $29,000. Finally, FSA Wealth Management LLC raised its stake in AstraZeneca by 376.0% during the second quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Price Performance

AstraZeneca stock opened at $88.99 on Thursday. The company’s 50 day simple moving average is $82.62 and its 200-day simple moving average is $76.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. AstraZeneca PLC has a 1 year low of $61.24 and a 1 year high of $90.27. The company has a market capitalization of $275.99 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, November 6th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The firm had revenue of $15.19 billion during the quarter, compared to the consensus estimate of $14.75 billion. AstraZeneca had a net margin of 14.68% and a return on equity of 32.84%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. As a group, equities research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of AstraZeneca in a research note on Monday, October 27th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

About AstraZeneca

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.