BI Asset Management Fondsmaeglerselskab A S Makes New $58.82 Million Investment in AstraZeneca PLC (NASDAQ:AZN)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 897,750 shares of the company’s stock, valued at approximately $58,821,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of AstraZeneca by 0.3% during the third quarter. Geode Capital Management LLC now owns 493,447 shares of the company’s stock worth $38,444,000 after acquiring an additional 1,269 shares during the period. Advisory Resource Group bought a new stake in AstraZeneca in the 3rd quarter valued at $946,000. Virtu Financial LLC acquired a new position in AstraZeneca in the 3rd quarter valued at $4,822,000. Anchor Investment Management LLC increased its position in AstraZeneca by 231.3% during the 3rd quarter. Anchor Investment Management LLC now owns 1,279 shares of the company’s stock worth $100,000 after buying an additional 893 shares during the period. Finally, World Investment Advisors LLC increased its position in AstraZeneca by 115.5% during the 3rd quarter. World Investment Advisors LLC now owns 8,267 shares of the company’s stock worth $644,000 after buying an additional 4,430 shares during the period. 20.35% of the stock is currently owned by institutional investors.

AstraZeneca Trading Up 0.7 %

NASDAQ AZN opened at $67.54 on Friday. The business’s 50-day moving average price is $72.90 and its two-hundred day moving average price is $70.57. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $209.47 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 1.42 and a beta of 0.49. AstraZeneca PLC has a 12 month low of $61.24 and a 12 month high of $87.68.

AstraZeneca (NASDAQ:AZN) last announced its earnings results 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%. On average, analysts expect that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, February 21st were paid a $1.03 dividend. The ex-dividend date was Friday, February 21st. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s payout ratio is currently 91.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AZN shares. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. BNP Paribas assumed coverage on shares of AstraZeneca in a research report on Tuesday. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. One investment 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $86.80.

About AstraZeneca

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.