AstraZeneca PLC $AZN Position Cut by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 374,204 shares of the company’s stock after selling 11,259 shares during the quarter. Victory Capital Management Inc.’s holdings in AstraZeneca were worth $28,709,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Primecap Management Co. CA grew its position in AstraZeneca by 1.3% in the 2nd quarter. Primecap Management Co. CA now owns 41,200,091 shares of the company’s stock worth $2,879,062,000 after purchasing an additional 538,606 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of AstraZeneca by 0.9% during the second quarter. Franklin Resources Inc. now owns 21,298,394 shares of the company’s stock valued at $1,488,332,000 after buying an additional 196,401 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of AstraZeneca by 2.3% during the third quarter. Fisher Asset Management LLC now owns 21,162,724 shares of the company’s stock worth $1,623,604,000 after buying an additional 466,745 shares during the period. Ameriprise Financial Inc. boosted its position in shares of AstraZeneca by 2.1% during the second quarter. Ameriprise Financial Inc. now owns 5,046,992 shares of the company’s stock worth $351,734,000 after buying an additional 104,625 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in AstraZeneca by 27.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,824,072 shares of the company’s stock worth $370,103,000 after buying an additional 1,048,738 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on AZN shares. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, January 21st. Morgan Stanley reissued an “overweight” rating and set a $103.00 price target on shares of AstraZeneca in a report on Wednesday, December 3rd. HSBC restated a “buy” rating and set a $108.00 price objective on shares of AstraZeneca in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of AstraZeneca in a report on Friday, February 6th. Finally, TD Cowen reissued a “buy” rating on shares of AstraZeneca in a research note on Tuesday, December 9th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $194.44 on Monday. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71. The firm has a market cap of $301.56 billion, a P/E ratio of 64.60, a PEG ratio of 1.59 and a beta of 0.32. The stock has a fifty day moving average price of $146.71 and a two-hundred day moving average price of $106.62. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.69 and a current ratio of 0.88.

AstraZeneca Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, February 20th will be issued a $1.595 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a dividend yield of 156.0%. AstraZeneca’s dividend payout ratio is currently 66.26%.

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.