Primecap Management Co. CA Sells 1,342,120 Shares of AstraZeneca PLC $AZN

Primecap Management Co. CA lessened its stake in AstraZeneca PLC (NASDAQ:AZN) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,857,971 shares of the company’s stock after selling 1,342,120 shares during the quarter. AstraZeneca makes up 2.3% of Primecap Management Co. CA’s holdings, making the stock its 9th biggest position. Primecap Management Co. CA owned about 1.29% of AstraZeneca worth $3,057,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AZN. Brighton Jones LLC grew its position in shares of AstraZeneca by 93.2% in the 4th quarter. Brighton Jones LLC now owns 5,782 shares of the company’s stock valued at $379,000 after acquiring an additional 2,789 shares during the period. AQR Capital Management LLC lifted its stake in AstraZeneca by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 37,501 shares of the company’s stock valued at $2,756,000 after purchasing an additional 11,690 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in AstraZeneca by 15.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 113,315 shares of the company’s stock valued at $7,918,000 after purchasing an additional 15,294 shares during the last quarter. Jennison Associates LLC grew its holdings in AstraZeneca by 15.2% during the second quarter. Jennison Associates LLC now owns 12,167,365 shares of the company’s stock worth $850,255,000 after purchasing an additional 1,605,133 shares during the period. Finally, Quaker Wealth Management LLC increased its position in AstraZeneca by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 812 shares of the company’s stock worth $57,000 after buying an additional 1,624 shares during the last quarter. 20.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZN has been the subject of several research analyst reports. Citigroup began coverage on AstraZeneca in a research note on Tuesday, January 27th. They set a “buy” rating for the company. TD Cowen reaffirmed a “buy” rating on shares of AstraZeneca in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of AstraZeneca in a report on Wednesday, January 21st. Barclays reissued an “overweight” rating on shares of AstraZeneca in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of AstraZeneca from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.75.

AstraZeneca Stock Performance

Shares of NASDAQ AZN opened at $206.22 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.88 and a quick ratio of 0.69. The firm has a market cap of $319.82 billion, a price-to-earnings ratio of 68.51, a P/E/G ratio of 1.59 and a beta of 0.34. The stock’s fifty day moving average price is $131.31 and its two-hundred day moving average price is $100.36. AstraZeneca PLC has a one year low of $122.48 and a one year high of $212.71.

AstraZeneca Dividend Announcement

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

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.