West Michigan Advisors LLC Invests $243,000 in AstraZeneca PLC $AZN

West Michigan Advisors LLC bought a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,481 shares of the company’s stock, valued at approximately $243,000.

Other large investors also recently modified their holdings of the company. SCS Capital Management LLC acquired a new stake in shares of AstraZeneca during the 1st quarter worth $3,066,000. Robbins Farley bought a new stake in shares of AstraZeneca during the 2nd quarter worth $1,857,000. Oliver Luxxe Assets LLC lifted its position in shares of AstraZeneca by 6.0% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 78,301 shares of the company’s stock worth $5,472,000 after buying an additional 4,449 shares during the last quarter. Alhambra Investment Management LLC bought a new stake in shares of AstraZeneca during the 2nd quarter worth $320,000. Finally, Community Trust & Investment Co. lifted its position in shares of AstraZeneca by 21.2% during the 2nd quarter. Community Trust & Investment Co. now owns 226,161 shares of the company’s stock worth $15,804,000 after buying an additional 39,488 shares during the last quarter. 20.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on AZN shares. Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.00.

AstraZeneca Stock Down 0.1%

Shares of NASDAQ:AZN opened at $83.29 on Friday. The stock has a market cap of $258.32 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.54 and a beta of 0.36. 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 12-month low of $61.24 and a 12-month high of $86.57. The business’s 50 day moving average is $80.87 and its 200 day moving average is $74.34.

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

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 8th were given a dividend of $0.505 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s payout ratio 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.