Causeway Capital Management LLC Raises Stock Position in AstraZeneca PLC $AZN

Causeway Capital Management LLC raised its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,067,371 shares of the company’s stock after acquiring an additional 113,923 shares during the quarter. AstraZeneca makes up about 1.1% of Causeway Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Causeway Capital Management LLC’s holdings in AstraZeneca were worth $81,889,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rakuten Investment Management Inc. purchased a new stake in shares of AstraZeneca during the third quarter worth about $31,000. FSA Wealth Management LLC lifted its holdings in AstraZeneca by 376.0% in the 2nd quarter. FSA Wealth Management LLC now owns 476 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in AstraZeneca in the 2nd quarter worth approximately $33,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in AstraZeneca by 144.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock worth $36,000 after purchasing an additional 275 shares during the period. Finally, Abound Wealth Management grew its holdings in AstraZeneca by 1,767.9% during the 3rd quarter. Abound Wealth Management now owns 523 shares of the company’s stock valued at $40,000 after buying an additional 495 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Price Performance

AZN stock opened at $195.00 on Tuesday. AstraZeneca PLC has a 52 week low of $122.48 and a 52 week high of $212.71. The firm has a market capitalization of $302.42 billion, a P/E ratio of 64.78, a price-to-earnings-growth ratio of 1.59 and a beta of 0.32. The company has a fifty day simple moving average of $148.76 and a two-hundred day simple moving average of $107.42. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 0.54.

AstraZeneca Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, February 20th will be issued a $1.595 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a dividend yield of 156.0%. AstraZeneca’s dividend payout ratio (DPR) is presently 66.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of AstraZeneca in a research report on Friday, February 6th. Wall Street Zen cut shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price target on shares of AstraZeneca in a report on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, January 21st. Finally, HSBC reaffirmed a “buy” rating and issued a $108.00 target price on shares of AstraZeneca in a report on Wednesday, December 10th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, AstraZeneca currently has an average rating of “Moderate Buy” and an average price target of $95.75.

AstraZeneca Company Profile

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.