Envestnet Portfolio Solutions Inc. Sells 17,148 Shares of AstraZeneca PLC $AZN

Envestnet Portfolio Solutions Inc. decreased its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 21.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 62,058 shares of the company’s stock after selling 17,148 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in AstraZeneca were worth $4,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZN. Larson Financial Group LLC lifted its holdings in AstraZeneca by 297.9% during 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. Richardson Financial Services Inc. lifted its holdings in AstraZeneca by 59.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 398 shares of the company’s stock valued at $28,000 after buying an additional 149 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in AstraZeneca during the 1st quarter valued at about $29,000. Costello Asset Management INC bought a new stake in AstraZeneca during the 1st quarter valued at about $29,000. Finally, Maseco LLP bought a new stake in AstraZeneca during the 2nd quarter valued at about $34,000. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 0.3%

NASDAQ:AZN opened at $84.83 on Thursday. 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 firm has a market cap of $263.09 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.56 and a beta of 0.36. The firm has a 50-day simple moving average of $79.82 and a 200-day simple moving average of $73.69.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.09 EPS for the quarter, hitting the consensus estimate of $1.09. The firm had revenue of $14.46 billion during 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%. AstraZeneca’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. Equities analysts anticipate that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Cuts Dividend

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

Analyst Upgrades and Downgrades

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

AstraZeneca 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.