Envestnet Asset Management Inc. Purchases 132,970 Shares of AstraZeneca PLC (NASDAQ:AZN)

Envestnet Asset Management Inc. raised its position in AstraZeneca PLC (NASDAQ:AZNFree Report) by 5.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,726,180 shares of the company’s stock after purchasing an additional 132,970 shares during the quarter. Envestnet Asset Management Inc.’s holdings in AstraZeneca were worth $183,608,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of AstraZeneca by 0.7% in the third quarter. Wellington Management Group LLP now owns 49,492,814 shares of the company’s stock worth $3,351,653,000 after acquiring an additional 358,399 shares during the last quarter. Capital International Investors lifted its holdings in AstraZeneca by 0.5% during the 4th quarter. Capital International Investors now owns 34,782,762 shares of the company’s stock worth $2,342,367,000 after buying an additional 164,183 shares in the last quarter. Sanders Capital LLC boosted its position in AstraZeneca by 39.0% in the 4th quarter. Sanders Capital LLC now owns 14,684,066 shares of the company’s stock valued at $988,972,000 after buying an additional 4,122,965 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in AstraZeneca by 9.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 10,424,914 shares of the company’s stock valued at $708,617,000 after buying an additional 889,178 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of AstraZeneca by 2.5% in the 4th quarter. Fisher Asset Management LLC now owns 9,404,023 shares of the company’s stock valued at $633,361,000 after buying an additional 233,015 shares during the period. Institutional investors and hedge funds own 20.35% of the company’s stock.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $80.02 on Friday. The firm’s 50 day simple moving average is $74.21 and its 200 day simple moving average is $68.77. AstraZeneca PLC has a fifty-two week low of $60.47 and a fifty-two week high of $80.86. The company has a market capitalization of $248.10 billion, a price-to-earnings ratio of 39.23, a P/E/G ratio of 1.45 and a beta of 0.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.89 and a quick ratio of 0.70.

AstraZeneca (NASDAQ:AZNGet Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.08. AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The company had revenue of $12.68 billion for the quarter, compared to analyst estimates of $11.92 billion. As a group, sell-side analysts forecast that AstraZeneca PLC will post 4.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on AstraZeneca in a research note on Thursday, May 30th. They set a “buy” rating and a $97.00 price target on the stock. Argus upped their target price on shares of AstraZeneca from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upgraded shares of AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets increased their price objective on shares of AstraZeneca from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Read Our Latest Stock Analysis on AZN

AstraZeneca Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AstraZeneca (NASDAQ:AZN)

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