AstraZeneca PLC $AZN Shares Purchased by Synovus Financial Corp

Synovus Financial Corp grew its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,315 shares of the company’s stock after acquiring an additional 7,583 shares during the period. Synovus Financial Corp’s holdings in AstraZeneca were worth $6,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. NewEdge Wealth LLC boosted its holdings in AstraZeneca by 6.2% in the third quarter. NewEdge Wealth LLC now owns 48,461 shares of the company’s stock valued at $3,933,000 after purchasing an additional 2,823 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of AstraZeneca in the 3rd quarter valued at approximately $54,000. CenterBook Partners LP purchased a new position in shares of AstraZeneca during the 3rd quarter valued at approximately $2,398,000. Syon Capital LLC grew its position in shares of AstraZeneca by 7.5% during the third quarter. Syon Capital LLC now owns 23,007 shares of the company’s stock worth $1,765,000 after buying an additional 1,603 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of AstraZeneca by 17.7% in the third quarter. Axxcess Wealth Management LLC now owns 23,530 shares of the company’s stock worth $1,805,000 after buying an additional 3,541 shares during the last quarter. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Price Performance

Shares of NASDAQ:AZN opened at $206.45 on Friday. The company has a market cap of $320.18 billion, a PE ratio of 68.57, a P/E/G ratio of 1.59 and a beta of 0.34. AstraZeneca PLC has a fifty-two week low of $122.48 and a fifty-two week high of $212.71. The firm has a 50-day simple moving average of $122.11 and a 200 day simple moving average of $96.53. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54.

AstraZeneca Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be given a dividend of $1.595 per share. This represents a dividend yield of 153.0%. The ex-dividend date is Friday, February 20th. AstraZeneca’s dividend payout ratio is presently 74.83%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen reiterated a “buy” rating on shares of AstraZeneca in a research note on Tuesday, December 9th. HSBC restated a “buy” rating and issued a $108.00 target price on shares of AstraZeneca in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of AstraZeneca in a research note on Friday, February 6th. Morgan Stanley restated an “overweight” rating and set a $103.00 price objective on shares of AstraZeneca in a research note on Wednesday, December 3rd. Finally, Citigroup started coverage on AstraZeneca in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Nine 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 company has an average rating of “Moderate Buy” and an average target price of $95.75.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.