NewEdge Wealth LLC Grows Position in AstraZeneca PLC $AZN

NewEdge Wealth LLC lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 6.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,461 shares of the company’s stock after purchasing an additional 2,823 shares during the quarter. NewEdge Wealth LLC’s holdings in AstraZeneca were worth $3,933,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AZN. Chapin Davis Inc. grew its position in AstraZeneca by 3.3% during the third quarter. Chapin Davis Inc. now owns 3,795 shares of the company’s stock valued at $291,000 after buying an additional 120 shares during the period. CoreCap Advisors LLC boosted its stake in shares of AstraZeneca by 30.6% during the 3rd quarter. CoreCap Advisors LLC now owns 534 shares of the company’s stock worth $41,000 after acquiring an additional 125 shares in the last quarter. Highline Wealth Partners LLC grew its position in shares of AstraZeneca by 32.0% during the 3rd quarter. Highline Wealth Partners LLC now owns 532 shares of the company’s stock valued at $41,000 after acquiring an additional 129 shares during the period. Traub Capital Management LLC increased its stake in shares of AstraZeneca by 3.3% in the 3rd quarter. Traub Capital Management LLC now owns 4,115 shares of the company’s stock valued at $316,000 after purchasing an additional 130 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in AstraZeneca by 0.6% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 21,215 shares of the company’s stock worth $1,628,000 after purchasing an additional 136 shares during the period. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $204.45 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69. AstraZeneca PLC has a 1 year low of $122.48 and a 1 year high of $212.71. The firm has a market capitalization of $317.09 billion, a PE ratio of 67.92, a P/E/G ratio of 1.59 and a beta of 0.34. The business’s 50 day moving average price is $124.40 and its 200-day moving average price is $97.43.

AstraZeneca Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, February 20th will be paid a $1.595 dividend. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend is Friday, February 20th. AstraZeneca’s dividend payout ratio (DPR) is currently 74.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZN. Weiss Ratings reiterated a “buy (b)” rating on shares of AstraZeneca in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 target price on shares of AstraZeneca in a research note on Wednesday, December 3rd. Barclays reissued an “overweight” rating on shares of AstraZeneca in a research note on Tuesday, January 6th. Wall Street Zen lowered shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of AstraZeneca in a report on Tuesday, December 9th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.75.

About AstraZeneca

AstraZeneca is a global, science-led biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca’s operations span research and development, large-scale manufacturing, and commercial distribution, with a presence in developed and emerging markets worldwide.

The company focuses on several core therapy areas including oncology, cardiovascular, renal and metabolism (CVRM), respiratory and immunology, and rare diseases.