Procyon Advisors LLC Sells 32,992 Shares of AstraZeneca PLC $AZN

Procyon Advisors LLC reduced its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 87.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,862 shares of the company’s stock after selling 32,992 shares during the quarter. Procyon Advisors LLC’s holdings in AstraZeneca were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZN. Confluence Investment Management LLC acquired a new position in AstraZeneca during the 1st quarter valued at about $27,000. Larson Financial Group LLC lifted 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 in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of AstraZeneca in the fourth quarter valued at approximately $29,000. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca during the first quarter valued at approximately $29,000. Finally, Costello Asset Management INC bought a new stake in AstraZeneca during the first quarter worth $29,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, AstraZeneca has an average rating of “Moderate Buy” and an average price target of $86.00.

AstraZeneca Stock Performance

Shares of AZN opened at $77.07 on Friday. AstraZeneca PLC has a 52-week low of $61.24 and a 52-week high of $82.41. The stock’s 50-day simple moving average is $76.51 and its 200 day simple moving average is $73.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market capitalization of $239.02 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.43 and a beta of 0.37.

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

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 8th were issued 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 (DPR) is presently 37.97%.

AstraZeneca Company 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.