Atlatl Advisers LLC Reduces Position in AstraZeneca PLC $AZN

Atlatl Advisers LLC lowered its position in AstraZeneca PLC (NASDAQ:AZN) by 4.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,604 shares of the company’s stock after selling 216 shares during the quarter. Atlatl Advisers LLC’s holdings in AstraZeneca were worth $322,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in shares of AstraZeneca by 297.9% in the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock valued at $28,000 after purchasing an additional 289 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of AstraZeneca by 59.8% in the second quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after purchasing an additional 149 shares during the period. Costello Asset Management INC purchased a new stake in shares of AstraZeneca in the first quarter valued at about $29,000. Maseco LLP purchased a new stake in shares of AstraZeneca in the second quarter valued at about $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of AstraZeneca in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Stock Down 0.1%

Shares of NASDAQ:AZN opened at $83.29 on Friday. The stock has a market cap of $258.32 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 1.54 and a beta of 0.36. AstraZeneca PLC has a fifty-two week low of $61.24 and a fifty-two week high of $86.57. The company has a quick ratio of 0.67, a current ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average price is $80.87 and its 200 day moving average price is $74.41.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting 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 net margin of 14.68% and a return on equity of 32.84%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. As a group, equities research analysts predict that AstraZeneca PLC will post 4.51 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Friday, August 8th were given a dividend of $0.505 per share. The ex-dividend date was Friday, August 8th. This represents a dividend yield of 200.0%. AstraZeneca’s dividend payout ratio (DPR) is 37.97%.

Wall Street Analyst Weigh In

A number of research firms have commented on AZN. Weiss Ratings reaffirmed a “buy (b)” rating on shares of AstraZeneca in a research report on Friday. Deutsche Bank Aktiengesellschaft cut shares of AstraZeneca from a “hold” rating to a “sell” rating in a research report on Thursday, October 16th. Finally, Berenberg Bank set a $97.00 price target on shares of AstraZeneca in a research report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.

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.