Wealth Management Associates Inc. Purchases New Stake in Astrazeneca Plc $AZN

Wealth Management Associates Inc. acquired a new position in shares of Astrazeneca Plc (NYSE:AZN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,275 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Triumph Capital Management purchased a new position in Astrazeneca in the third quarter valued at about $25,000. Bangor Savings Bank raised its holdings in shares of Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock worth $28,000 after purchasing an additional 154 shares during the period. Rakuten Investment Management Inc. bought a new stake in shares of Astrazeneca in the 3rd quarter worth approximately $31,000. JPL Wealth Management LLC purchased a new position in Astrazeneca in the third quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Astrazeneca by 144.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock valued at $36,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 20.35% of the company’s stock.

Wall Street Analyst Weigh In

AZN has been the topic of several research reports. Wall Street Zen upgraded Astrazeneca from a “hold” rating to a “buy” rating in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Astrazeneca in a report on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Astrazeneca in a research note on Wednesday, March 18th. Weiss Ratings began coverage on shares of Astrazeneca in a report on Wednesday, March 11th. They set a “buy (b)” rating on the stock. Finally, Citigroup assumed coverage on shares of Astrazeneca in a research note 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, Astrazeneca presently has an average rating of “Moderate Buy” and an average price target of $95.75.

Astrazeneca Trading Up 1.3%

Shares of AZN opened at $203.32 on Friday. Astrazeneca Plc has a twelve month low of $122.48 and a twelve month high of $212.71. The stock has a market cap of $315.33 billion, a PE ratio of 31.04, a P/E/G ratio of 1.51 and a beta of 0.35. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, February 20th were given a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca’s payout ratio is 66.26%.

Astrazeneca Company Profile

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.