Generate Investment Management Ltd Purchases New Holdings in AstraZeneca PLC (NASDAQ:AZN)

Generate Investment Management Ltd acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 120,851 shares of the company’s stock, valued at approximately $7,918,000.

Other hedge funds have also made changes to their positions in the company. McClarren Financial Advisors Inc. raised its stake in AstraZeneca by 320.8% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 324 shares of the company’s stock valued at $25,000 after purchasing an additional 247 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in AstraZeneca during the 3rd quarter worth $28,000. Albion Financial Group UT grew its holdings in shares of AstraZeneca by 68.9% during the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock worth $40,000 after buying an additional 248 shares in the last quarter. Groupama Asset Managment raised its position in shares of AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after buying an additional 101,225 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of AstraZeneca in the third quarter worth about $45,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. UBS Group raised AstraZeneca from a “sell” rating to a “neutral” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AstraZeneca presently has an average rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Down 0.5 %

Shares of NASDAQ AZN opened at $71.99 on Friday. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The company has a market capitalization of $223.25 billion, a P/E ratio of 31.85, a P/E/G ratio of 1.20 and a beta of 0.46. The company has a 50 day simple moving average of $67.38 and a 200-day simple moving average of $73.69. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.71.

AstraZeneca (NASDAQ:AZN) last posted its earnings results on Thursday, February 6th. The company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.55%. On average, equities research analysts predict that AstraZeneca PLC will post 4.66 earnings per share for the current year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio is presently 43.36%.

AstraZeneca Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.