Sterling Capital Management LLC Grows Stake in AstraZeneca PLC (NASDAQ:AZN)

Sterling Capital Management LLC increased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 54.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,464 shares of the company’s stock after purchasing an additional 5,835 shares during the period. Sterling Capital Management LLC’s holdings in AstraZeneca were worth $1,079,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Albion Financial Group UT increased its holdings in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after purchasing an additional 248 shares during the last quarter. 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. Crews Bank & Trust bought a new stake in AstraZeneca in the 4th quarter worth approximately $55,000. Golden State Wealth Management LLC purchased a new stake in shares of AstraZeneca during the 4th quarter worth approximately $55,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of AstraZeneca during the 4th quarter valued at approximately $55,000. 20.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AZN has been the topic of several research reports. Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. BNP Paribas assumed coverage on shares of AstraZeneca in a research note on Tuesday. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $86.80.

AstraZeneca Trading Down 0.2 %

Shares of AZN opened at $67.87 on Wednesday. The company’s fifty day simple moving average is $73.20 and its 200-day simple moving average is $70.75. The company has a market cap of $210.48 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.42 and a beta of 0.49. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a twelve month low of $61.24 and a twelve month high of $87.68.

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

AstraZeneca Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Friday, February 21st were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is presently 91.15%.

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.