Institutional Investors Shift AstraZeneca Positions; Stock Holds 'Moderate Buy' Consensus
Institutional investors disclosed mixed moves in AstraZeneca plc during recent quarters, with several large funds selling while others initiated new positions. The company beat earnings expectations with $2.58 EPS and $15.29 billion in revenue. Analysts maintain a 'Moderate Buy' consensus with a $211.00 average price target.
Several institutional investors have reduced their stakes in AstraZeneca plc (NYSE:AZN) while others have established new positions, according to recent 13F filings with the Securities and Exchange Commission. The biopharmaceutical company has seen institutional investors and hedge funds own 20.35% of its stock.
Bridgewater Advisors Inc. lowered its position by 57.9% during the first quarter, selling 6,355 shares and now holding 4,615 shares valued at $866,000. Lido Advisors LLC cut its stake by 68.1%, holding 42,073 shares worth $8,298,000 after selling 89,689 shares. Assetmark Inc. reduced its holdings by 43.0%, leaving 191,107 shares valued at $37.69 million, while Triglav Investments D.O.O. decreased its position by 63.5%, now owning 36,618 shares worth $7,217,000. Conversely, RFG Advisory LLC purchased a new position of 14,706 shares valued at $2,581,000 in the fourth quarter, and Indivisible Partners acquired 13,043 shares worth $2,289,000. Sivik Global Healthcare LLC bought 40,000 shares valued at $3,677,000, making the stock its 27th largest position at 1.1% of its portfolio. Farther Finance Advisors LLC increased its stake by 121.6%, now holding 22,666 shares worth $2,084,000.
On the financial front, AstraZeneca last released quarterly earnings on April 29th, reporting $2.58 earnings per share, beating analysts' consensus estimates of $2.52, and revenue of $15.29 billion, compared to the consensus estimate of $14.93 billion. The company reported a net margin of 17.19% and a return on equity of 30.86%. Analysts forecast that AstraZeneca will post around 10.22 to 10.28 EPS for the current year.
Shares of AstraZeneca have traded between $122.48 and $212.71 over the past 52 weeks. On the London Stock Exchange, the stock recently passed above its 200-day moving average of £135.74, trading as high as £154.32 and last at £153.16. The company also announced a dividend of $1.595 per share, paid on March 23rd to shareholders of record on February 20th, representing a dividend yield of 156.0%.
Analyst sentiment on AstraZeneca remains positive, with a consensus rating of 'Moderate Buy' and an average price target of $211.00. Of the analysts covering the stock, thirteen have rated it a Buy, one a Hold, and one a Sell.