Jacobi Capital Management LLC trimmed its holdings in shares of AstraZeneca PLC (NASDAQ:AZN – Get Rating) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,984 shares of the company’s stock after selling 406 shares during the period. Jacobi Capital Management LLC’s holdings in AstraZeneca were worth $463,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AZN. Horan Securities Inc. acquired a new position in AstraZeneca during the fourth quarter worth about $26,000. Baltimore Washington Financial Advisors Inc. acquired a new position in AstraZeneca during the fourth quarter worth about $27,000. Allegheny Financial Group LTD acquired a new position in AstraZeneca during the fourth quarter worth about $28,000. Fairfield Bush & CO. acquired a new position in AstraZeneca during the first quarter worth about $28,000. Finally, Quent Capital LLC acquired a new position in AstraZeneca during the fourth quarter worth about $31,000. 20.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on AstraZeneca from £102 ($124.98) to £111 ($136.01) in a report on Thursday, April 21st. Barclays lifted their price target on AstraZeneca from £115 ($140.91) to £120 ($147.04) in a research note on Thursday, April 14th. Credit Suisse Group lifted their price target on AstraZeneca from GBX 9,000 ($110.28) to £110 ($134.79) in a research note on Friday, April 8th. Kepler Capital Markets cut AstraZeneca from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th. Finally, UBS Group cut AstraZeneca from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8,840.50.
AstraZeneca Stock Down 0.4 %
AstraZeneca Cuts Dividend
The company also recently declared a semi-annual dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.465 per share. The ex-dividend date is Thursday, August 11th. This represents a dividend yield of 2.2%. AstraZeneca’s dividend payout ratio is -470.72%.
AstraZeneca Company Profile
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. Its marketed products include Calquence, Enhertu, Faslodex, Imfinzi, Iressa, Koselugo, Lumoxiti, Lynparza, Orpathys, Tagrisso, and Zoladex for oncology; Brilinta/Brilique, Bydureon/Byetta, BCise, Byetta, Crestor, Evrenzo, Farxiga/Forxiga, Komboglyze/Kombiglyze XR, Lokelma, Onglyza, Qtern, and Xigduo/Xigduo XR for cardiovascular, renal, and metabolism diseases; Bevespi Aerosphere, Breztri Aerosphere, Daliresp/Daxas, Duaklir Genuair, Fasenra, Pulmicort, Saphnelo, Symbicort, and Tudorza/Eklira/Bretaris for respiratory and immunology; and Andexxa/Ondexxya, Kanuma, Soliris, Strensiq, and Ultomiris for rare diseases.
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