Connor Clark & Lunn Investment Management Ltd. Buys 5,807 Shares of AstraZeneca PLC (NASDAQ:AZN)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in AstraZeneca PLC (NASDAQ:AZN) by 23.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,082 shares of the company’s stock after acquiring an additional 5,807 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AstraZeneca were worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AZN. Banque Transatlantique SA bought a new stake in AstraZeneca in the 4th quarter valued at $26,000. Confluence Investment Management LLC acquired a new position in AstraZeneca in the 1st quarter valued at $27,000. Larson Financial Group LLC grew its holdings in AstraZeneca by 297.9% in the 1st quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after buying an additional 289 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in AstraZeneca in the 4th quarter valued at $29,000. Finally, FNY Investment Advisers LLC acquired a new position in AstraZeneca in the 1st quarter valued at $29,000. Institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $97.00 price objective on AstraZeneca in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and an average price target of $86.00.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $78.47 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.86 and a quick ratio of 0.67. The stock’s fifty day moving average price is $72.19 and its two-hundred day moving average price is $71.83. AstraZeneca PLC has a one year low of $61.24 and a one year high of $87.68. The firm has a market cap of $243.36 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.44 and a beta of 0.36.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Tuesday, July 29th. The company reported $1.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.09. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.08 billion. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%. AstraZeneca’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. On average, equities analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.505 per share. This represents a dividend yield of 200.0%. The ex-dividend date of this dividend is Friday, August 8th. AstraZeneca’s dividend payout ratio is 37.97%.

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.