iA Global Asset Management Inc. Acquires 6,914 Shares of AstraZeneca PLC (NASDAQ:AZN)

iA Global Asset Management Inc. grew its position in AstraZeneca PLC (NASDAQ:AZN) by 4.9% during the 4th quarter, Holdings Channel reports. The firm owned 148,153 shares of the company’s stock after purchasing an additional 6,914 shares during the quarter. iA Global Asset Management Inc.’s holdings in AstraZeneca were worth $9,707,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp boosted its stake in shares of AstraZeneca by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 12,901 shares of the company’s stock valued at $845,000 after purchasing an additional 142 shares in the last quarter. Diversify Wealth Management LLC boosted its stake in shares of AstraZeneca by 3.6% in the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after purchasing an additional 153 shares in the last quarter. Veery Capital LLC boosted its stake in shares of AstraZeneca by 4.7% in the 4th quarter. Veery Capital LLC now owns 3,503 shares of the company’s stock valued at $230,000 after purchasing an additional 157 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of AstraZeneca by 1.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,027 shares of the company’s stock valued at $788,000 after purchasing an additional 175 shares in the last quarter. Finally, Hardy Reed LLC boosted its stake in shares of AstraZeneca by 5.9% in the 3rd quarter. Hardy Reed LLC now owns 3,182 shares of the company’s stock valued at $248,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Down 1.0 %

Shares of NASDAQ AZN opened at $76.32 on Thursday. The firm’s 50-day simple moving average is $72.47 and its 200 day simple moving average is $72.16. The company has a market cap of $236.68 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The company has a quick ratio of 0.74, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68.

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

AstraZeneca Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from AstraZeneca’s previous semi-annual dividend of $0.49. This represents a yield of 2%. AstraZeneca’s dividend payout ratio is presently 91.15%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AZN shares. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Wednesday, February 12th. They issued an “overweight” rating on the stock. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $89.75.

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.