Connecticut Wealth Management LLC Buys 2,638 Shares of AstraZeneca PLC (NASDAQ:AZN)

Connecticut Wealth Management LLC boosted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 78.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,984 shares of the company’s stock after buying an additional 2,638 shares during the quarter. Connecticut Wealth Management LLC’s holdings in AstraZeneca were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FourThought Financial Partners LLC raised its position in AstraZeneca by 4.6% during the 4th quarter. FourThought Financial Partners LLC now owns 60,422 shares of the company’s stock valued at $4,069,000 after purchasing an additional 2,633 shares in the last quarter. Henry James International Management Inc. boosted its position in shares of AstraZeneca by 44.6% during the fourth quarter. Henry James International Management Inc. now owns 30,832 shares of the company’s stock worth $2,077,000 after buying an additional 9,506 shares during the period. TCG Advisory Services LLC lifted its stake in AstraZeneca by 31.2% during the 4th quarter. TCG Advisory Services LLC now owns 50,963 shares of the company’s stock worth $3,432,000 after acquiring an additional 12,110 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of AstraZeneca by 8.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 26,471 shares of the company’s stock valued at $1,783,000 after acquiring an additional 2,118 shares during the last quarter. Finally, Todd Asset Management LLC raised its position in shares of AstraZeneca by 19.6% during the 4th quarter. Todd Asset Management LLC now owns 489,310 shares of the company’s stock worth $32,955,000 after acquiring an additional 80,148 shares in the last quarter. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AZN shares. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley started coverage on shares of AstraZeneca in a research note on Tuesday, January 23rd. They set an “overweight” rating on the stock. Finally, BMO Capital Markets upped their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AstraZeneca has an average rating of “Moderate Buy” and an average price target of $81.00.

AstraZeneca Stock Performance

AstraZeneca stock traded down $0.58 during trading hours on Monday, reaching $75.77. 3,291,708 shares of the stock were exchanged, compared to its average volume of 6,329,115. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $76.80. The stock has a market cap of $234.92 billion, a P/E ratio of 37.43, a P/E/G ratio of 1.39 and a beta of 0.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50 day moving average is $68.38 and its 200 day moving average is $66.34.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The firm had revenue of $12.02 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the business earned $0.69 EPS. AstraZeneca’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that AstraZeneca PLC will post 4.01 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were issued a dividend of $0.965 per share. This represents a yield of 2.3%. The ex-dividend date was Thursday, February 22nd. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s dividend payout ratio is currently 94.61%.

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.