Financial Advocates Investment Management Sells 5,375 Shares of AstraZeneca PLC $AZN

Financial Advocates Investment Management trimmed its stake in AstraZeneca PLC (NASDAQ:AZN) by 43.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,049 shares of the company’s stock after selling 5,375 shares during the period. Financial Advocates Investment Management’s holdings in AstraZeneca were worth $493,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. NewSquare Capital LLC increased its holdings 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 buying an additional 218 shares during the last quarter. Richardson Financial Services Inc. increased its stake in 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 during the last quarter. Costello Asset Management INC bought a new position in AstraZeneca in the first quarter valued at $29,000. FSA Wealth Management LLC raised its position in AstraZeneca by 376.0% during the second quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock valued at $33,000 after purchasing an additional 376 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in AstraZeneca during the second quarter worth about $33,000. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Stock Up 0.1%

Shares of NASDAQ AZN opened at $93.32 on Thursday. 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 52 week low of $61.24 and a 52 week high of $94.02. The firm’s fifty day moving average is $83.89 and its 200 day moving average is $77.35. The company has a market cap of $289.43 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 1.52 and a beta of 0.34.

AstraZeneca (NASDAQ:AZN) last announced its quarterly 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 business had revenue of $15.19 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. On average, equities research analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a report on Thursday, October 16th. Jefferies Financial Group began coverage on shares of AstraZeneca in a research note on Monday, October 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a research note on Wednesday, October 8th. Five 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 currently has a consensus 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.