Clark Capital Management Group Inc. Raises Holdings in Astrazeneca Plc $AZN

Clark Capital Management Group Inc. grew its holdings in Astrazeneca Plc (NYSE:AZN) by 94.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,294,484 shares of the company’s stock after buying an additional 627,971 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Astrazeneca were worth $99,313,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Binnacle Investments Inc grew its holdings in Astrazeneca by 21.8% during the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $51,000 after acquiring an additional 118 shares during the period. Chapin Davis Inc. lifted its holdings in Astrazeneca by 3.3% in the third quarter. Chapin Davis Inc. now owns 3,795 shares of the company’s stock valued at $291,000 after acquiring an additional 120 shares during the period. 44 Wealth Management LLC boosted its position in shares of Astrazeneca by 0.7% during the 3rd quarter. 44 Wealth Management LLC now owns 16,722 shares of the company’s stock worth $1,283,000 after purchasing an additional 124 shares in the last quarter. CoreCap Advisors LLC boosted its position 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 purchasing an additional 125 shares in the last quarter. Finally, Highline Wealth Partners LLC grew its stake in shares of Astrazeneca by 32.0% during the 3rd quarter. Highline Wealth Partners LLC now owns 532 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares during the period. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

Astrazeneca Stock Down 1.2%

Shares of NYSE AZN opened at $190.20 on Friday. Astrazeneca Plc has a 12-month low of $122.48 and a 12-month high of $212.71. The stock has a market capitalization of $294.98 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.43 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.51.

Astrazeneca Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, February 20th will be given a dividend of $1.595 per share. This represents a dividend yield of 156.0%. The ex-dividend date is Friday, February 20th. Astrazeneca’s payout ratio is currently 66.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZN. HSBC reiterated a “buy” rating and issued a $108.00 price target on shares of Astrazeneca in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Astrazeneca in a research report on Friday, February 6th. Weiss Ratings began coverage on shares of Astrazeneca in a report on Wednesday. They issued a “buy (b)” rating for the company. Barclays reiterated an “overweight” rating on shares of Astrazeneca in a research report on Tuesday, January 6th. Finally, Wall Street Zen lowered Astrazeneca from a “buy” rating to a “hold” rating in a research note on Thursday. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.75.

About Astrazeneca

AstraZeneca plc is a global 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 positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.