AstraZeneca PLC (NASDAQ:AZN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of AstraZeneca PLC (NASDAQ:AZN) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,626 shares of the company’s stock after selling 18,602 shares during the quarter. PNC Financial Services Group Inc.’s holdings in AstraZeneca were worth $14,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AZN. FMR LLC grew its holdings in AstraZeneca by 1.1% during the 3rd quarter. FMR LLC now owns 23,117,447 shares of the company’s stock worth $1,801,080,000 after acquiring an additional 258,477 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of AstraZeneca by 8.7% during the third quarter. Franklin Resources Inc. now owns 19,122,675 shares of the company’s stock worth $1,492,649,000 after purchasing an additional 1,522,715 shares during the last quarter. Jennison Associates LLC grew its stake in AstraZeneca by 3.1% in the fourth quarter. Jennison Associates LLC now owns 15,430,963 shares of the company’s stock worth $1,011,037,000 after purchasing an additional 466,416 shares in the last quarter. Fisher Asset Management LLC increased its holdings in AstraZeneca by 4.6% in the fourth quarter. Fisher Asset Management LLC now owns 10,959,852 shares of the company’s stock valued at $718,090,000 after buying an additional 479,692 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in AstraZeneca by 17.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 3,745,531 shares of the company’s stock valued at $245,407,000 after buying an additional 564,297 shares in the last quarter. Institutional investors own 20.35% of the company’s stock.

AstraZeneca Trading Down 1.9 %

NASDAQ:AZN opened at $75.99 on Tuesday. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.74. The business has a 50 day simple moving average of $71.04 and a 200 day simple moving average of $72.58. The firm has a market capitalization of $235.66 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.42 and a beta of 0.41.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.05). AstraZeneca had a net margin of 13.01% and a return on equity of 32.23%. Equities research analysts predict that AstraZeneca PLC will post 4.51 EPS for the current year.

AstraZeneca Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, February 21st will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

Analysts Set New Price Targets

Several research analysts have recently commented on AZN shares. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating for the company. UBS Group raised shares of AstraZeneca from a “neutral” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $89.75.

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.