AstraZeneca PLC $AZN Shares Sold by Concord Wealth Partners

Concord Wealth Partners trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 69.2% during the second quarter, Holdings Channel.com reports. The firm owned 671 shares of the company’s stock after selling 1,509 shares during the quarter. Concord Wealth Partners’ holdings in AstraZeneca were worth $47,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AZN. Larson Financial Group LLC boosted its stake in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 289 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in AstraZeneca by 59.8% during the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after buying an additional 149 shares in the last quarter. FNY Investment Advisers LLC bought a new position in AstraZeneca during the first quarter valued at about $29,000. Costello Asset Management INC bought a new position in AstraZeneca during the first quarter valued at about $29,000. Finally, Highline Wealth Partners LLC boosted its stake in AstraZeneca by 447.4% during the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock valued at $31,000 after buying an additional 340 shares in the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AZN has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Berenberg Bank set a $97.00 target price on AstraZeneca in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

AstraZeneca Trading Down 0.0%

NASDAQ:AZN opened at $84.51 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. AstraZeneca PLC has a 1-year low of $61.24 and a 1-year high of $86.57. The firm has a market capitalization of $262.10 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The stock has a fifty day simple moving average of $79.38 and a 200 day simple moving average of $73.54.

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

AstraZeneca Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were paid a $0.505 dividend. This represents a yield of 200.0%. The ex-dividend date of this dividend was Friday, August 8th. 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.