AstraZeneca PLC (NASDAQ:AZN) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. reduced its holdings in AstraZeneca PLC (NASDAQ:AZN) by 4.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,455 shares of the company’s stock after selling 793 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in AstraZeneca were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Able Wealth Management LLC acquired a new stake in AstraZeneca during the fourth quarter worth about $27,000. Pathway Financial Advisers LLC acquired a new stake in AstraZeneca during the first quarter worth about $29,000. Pin Oak Investment Advisors Inc. increased its stake in AstraZeneca by 468.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 449 shares of the company’s stock worth $30,000 after acquiring an additional 370 shares during the last quarter. RFP Financial Group LLC increased its stake in AstraZeneca by 56.3% during the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after acquiring an additional 178 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in AstraZeneca during the fourth quarter worth about $34,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

NASDAQ:AZN traded up $0.35 during trading hours on Tuesday, reaching $85.13. 2,484,259 shares of the stock were exchanged, compared to its average volume of 5,335,562. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $79.47 and a 200-day simple moving average of $73.56. AstraZeneca PLC has a 52 week low of $60.47 and a 52 week high of $85.65. The stock has a market capitalization of $263.95 billion, a P/E ratio of 41.56, a P/E/G ratio of 1.36 and a beta of 0.45.

AstraZeneca (NASDAQ:AZN) last released its earnings results on Thursday, July 25th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to the consensus estimate of $12.62 billion. AstraZeneca had a return on equity of 29.34% and a net margin of 13.11%. AstraZeneca’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.74 earnings per share for the current fiscal year.

AstraZeneca Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Monday, September 9th. Stockholders of record on Friday, August 9th will be given a dividend of $0.49 per share. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, August 9th. AstraZeneca’s payout ratio is 48.04%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AZN. Citigroup upgraded AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. BMO Capital Markets increased their price target on AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays raised AstraZeneca to a “strong-buy” rating in a report on Monday, June 24th. TD Cowen increased their price target on AstraZeneca from $90.00 to $95.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Argus increased their price target on AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AstraZeneca has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Company 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.