Meitav Investment House Ltd. Raises Stake in AstraZeneca PLC (NASDAQ:AZN)

Meitav Investment House Ltd. increased its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 616.2% during the 4th quarter, Holdings Channel reports. The firm owned 238,270 shares of the company’s stock after acquiring an additional 205,000 shares during the period. Meitav Investment House Ltd.’s holdings in AstraZeneca were worth $15,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in AstraZeneca during the third quarter valued at about $28,000. Albion Financial Group UT raised its stake in AstraZeneca by 68.9% during the 4th quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after purchasing an additional 248 shares during the period. Groupama Asset Managment lifted its holdings in AstraZeneca by 22.9% in the 3rd quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock worth $42,000 after purchasing an additional 101,225 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in AstraZeneca in the 3rd quarter worth approximately $45,000. Finally, Versant Capital Management Inc grew its holdings in AstraZeneca by 2,618.5% during the 4th quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after buying an additional 707 shares in the last quarter. 20.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AZN. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. Finally, UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca has an average rating of “Buy” and a consensus price target of $89.75.

AstraZeneca Price Performance

AZN stock opened at $73.81 on Thursday. The company has a fifty day simple moving average of $68.45 and a two-hundred day simple moving average of $73.29. AstraZeneca PLC has a 52 week low of $62.75 and a 52 week high of $87.68. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $228.89 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 1.44 and a beta of 0.46.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Analysts anticipate that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be issued a $1.03 dividend. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. This represents a dividend yield of 2%. AstraZeneca’s payout ratio is 43.36%.

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.