Truist Financial Corp Has $56.87 Million Holdings in AstraZeneca PLC $AZN

Truist Financial Corp increased its stake in AstraZeneca PLC (NASDAQ:AZN) by 15.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 813,753 shares of the company’s stock after purchasing an additional 108,262 shares during the quarter. Truist Financial Corp’s holdings in AstraZeneca were worth $56,865,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Lindbrook Capital LLC increased its position in shares of AstraZeneca by 1.9% in the first quarter. Lindbrook Capital LLC now owns 7,574 shares of the company’s stock worth $557,000 after purchasing an additional 141 shares during the period. Principal Securities Inc. increased its position in shares of AstraZeneca by 0.5% in the first quarter. Principal Securities Inc. now owns 28,053 shares of the company’s stock worth $2,062,000 after purchasing an additional 142 shares during the period. Sage Mountain Advisors LLC increased its position in shares of AstraZeneca by 3.4% in the first quarter. Sage Mountain Advisors LLC now owns 4,478 shares of the company’s stock worth $329,000 after purchasing an additional 147 shares during the period. Evergreen Capital Management LLC increased its position in shares of AstraZeneca by 0.7% in the first quarter. Evergreen Capital Management LLC now owns 23,709 shares of the company’s stock worth $1,743,000 after purchasing an additional 155 shares during the period. Finally, Eagle Global Advisors LLC increased its position in shares of AstraZeneca by 0.3% in the second quarter. Eagle Global Advisors LLC now owns 53,536 shares of the company’s stock worth $3,741,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $97.00 price target on AstraZeneca in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

AstraZeneca Stock Performance

AstraZeneca stock opened at $84.36 on Thursday. AstraZeneca PLC has a 12-month low of $61.24 and a 12-month high of $84.61. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $77.59 and its two-hundred day moving average price is $73.00. The stock has a market cap of $261.63 billion, a PE ratio of 31.71, a P/E/G ratio of 1.41 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 quarter in the previous year, the business posted $1.24 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, analysts expect that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were paid a dividend of $0.505 per share. This represents a dividend 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.