Astrazeneca Plc $AZN Position Reduced by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its position in Astrazeneca Plc (NYSE:AZN) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,154,148 shares of the company’s stock after selling 78,213 shares during the quarter. Astrazeneca makes up approximately 1.1% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 13th largest position. CIBC Private Wealth Group LLC’s holdings in Astrazeneca were worth $625,586,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Astrazeneca in the 3rd quarter valued at approximately $25,000. Rakuten Investment Management Inc. purchased a new position in Astrazeneca during the 3rd quarter worth approximately $31,000. JPL Wealth Management LLC acquired a new stake in Astrazeneca during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Astrazeneca by 144.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 466 shares of the company’s stock valued at $36,000 after purchasing an additional 275 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Astrazeneca in the second quarter valued at $33,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AZN shares. Guggenheim reiterated a “buy” rating on shares of Astrazeneca in a report on Wednesday, December 3rd. Weiss Ratings initiated coverage on Astrazeneca in a research note on Wednesday, March 11th. They issued a “buy (b)” rating for the company. Citigroup initiated coverage on Astrazeneca in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Astrazeneca in a report on Friday, February 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $103.00 price target on shares of Astrazeneca in a report on Wednesday, December 3rd. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.75.

Astrazeneca Stock Performance

NYSE AZN opened at $191.33 on Wednesday. Astrazeneca Plc has a fifty-two week low of $122.48 and a fifty-two week high of $212.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 0.94. The stock has a market cap of $296.73 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 1.45 and a beta of 0.32.

Astrazeneca Announces Dividend

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

Astrazeneca Profile

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.