Greatmark Investment Partners Inc. Makes New Investment in AstraZeneca PLC (NASDAQ:AZN)

Greatmark Investment Partners Inc. acquired a new position in AstraZeneca PLC (NASDAQ:AZN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,643 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds have also made changes to their positions in the company. Albion Financial Group UT increased its position in shares of AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after buying an additional 248 shares in the last quarter. Versant Capital Management Inc increased its position in shares of AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after buying an additional 707 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of AstraZeneca in the fourth quarter valued at $55,000. Crews Bank & Trust purchased a new position in shares of AstraZeneca in the fourth quarter valued at $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in AstraZeneca during the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

Analyst Ratings Changes

AZN has been the subject of a number of recent research reports. UBS Group upgraded AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on AstraZeneca in a research report on Wednesday, February 12th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Stock Up 1.4 %

Shares of NASDAQ:AZN opened at $77.60 on Friday. The stock’s 50-day moving average price is $71.86 and its two-hundred day moving average price is $72.48. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65. AstraZeneca PLC has a 12-month low of $62.75 and a 12-month high of $87.68. The firm has a market cap of $240.65 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 1.42 and a beta of 0.41.

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

AstraZeneca Increases Dividend

The firm 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. This represents a yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date of this dividend is Friday, February 21st. AstraZeneca’s dividend payout ratio (DPR) is presently 91.15%.

About AstraZeneca

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.