Verdence Capital Advisors LLC Raises Stock Holdings in AstraZeneca PLC $AZN

Verdence Capital Advisors LLC boosted its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 2.5% during the second quarter, HoldingsChannel.com reports. The firm owned 40,283 shares of the company’s stock after purchasing an additional 982 shares during the period. Verdence Capital Advisors LLC’s holdings in AstraZeneca were worth $2,815,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in AstraZeneca by 297.9% during the first quarter. Larson Financial Group LLC now owns 386 shares of the company’s stock worth $28,000 after purchasing an additional 289 shares in the last quarter. Richardson Financial Services Inc. lifted its position 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 acquiring an additional 149 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AstraZeneca in the first quarter valued at approximately $29,000. Costello Asset Management INC purchased a new position in shares of AstraZeneca in the first quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC lifted its position in shares of AstraZeneca by 447.4% in the first quarter. Highline Wealth Partners LLC now owns 416 shares of the company’s stock valued at $31,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

NASDAQ:AZN opened at $84.53 on Monday. AstraZeneca PLC has a one year low of $61.24 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.67 and a current ratio of 0.86. The stock has a market cap of $262.16 billion, a PE ratio of 31.78, a P/E/G ratio of 1.55 and a beta of 0.36. The stock has a 50 day moving average price of $79.18 and a 200 day moving average price of $73.46.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, meeting the consensus estimate of $1.09. AstraZeneca had a return on equity of 32.84% and a net margin of 14.68%.The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.08 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities research analysts expect that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AZN shares. Weiss Ratings restated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, October 8th. Berenberg Bank set a $97.00 target price on AstraZeneca in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.