Horizon Investments LLC Boosts Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Horizon Investments LLC lifted its stake in AstraZeneca PLC (NASDAQ:AZN) by 22.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,302 shares of the company’s stock after buying an additional 2,954 shares during the period. Horizon Investments LLC’s holdings in AstraZeneca were worth $1,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AZN. Nordea Investment Management AB bought a new stake in AstraZeneca in the fourth quarter valued at approximately $754,000. Diversify Wealth Management LLC raised its holdings in AstraZeneca by 3.6% during the 4th quarter. Diversify Wealth Management LLC now owns 4,402 shares of the company’s stock valued at $295,000 after buying an additional 153 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in AstraZeneca by 25.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 9,487 shares of the company’s stock valued at $622,000 after buying an additional 1,949 shares during the period. Oak Ridge Investments LLC grew its holdings in AstraZeneca by 5.4% in the 4th quarter. Oak Ridge Investments LLC now owns 143,973 shares of the company’s stock worth $9,433,000 after acquiring an additional 7,341 shares during the last quarter. Finally, Asio Capital LLC increased its position in shares of AstraZeneca by 11.6% in the fourth quarter. Asio Capital LLC now owns 53,541 shares of the company’s stock valued at $3,508,000 after acquiring an additional 5,569 shares during the period. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Performance

AstraZeneca stock opened at $76.32 on Thursday. AstraZeneca PLC has a fifty-two week low of $62.75 and a fifty-two week high of $87.68. The stock has a market cap of $236.68 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.42 and a beta of 0.41. The stock’s 50 day simple moving average is $72.47 and its two-hundred day simple moving average is $72.16. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.74 and a current ratio of 0.93.

AstraZeneca (NASDAQ:AZN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. As a group, 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. Stockholders of record on Friday, February 21st will be issued a dividend of $1.03 per share. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

Analysts Set New Price Targets

Several research firms recently issued reports on AZN. UBS Group raised AstraZeneca from a “neutral” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley started coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.