Professional Advisory Services Inc. Sells 3,699 Shares of AstraZeneca PLC (NASDAQ:AZN)

Professional Advisory Services Inc. cut its holdings in shares of AstraZeneca PLC (NASDAQ:AZN) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 276,528 shares of the company’s stock after selling 3,699 shares during the period. AstraZeneca accounts for 2.8% of Professional Advisory Services Inc.’s portfolio, making the stock its 21st biggest position. Professional Advisory Services Inc.’s holdings in AstraZeneca were worth $21,544,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new position in shares of AstraZeneca during the second quarter valued at approximately $26,000. Pathway Financial Advisers LLC purchased a new position in shares of AstraZeneca during the first quarter valued at approximately $29,000. Hobbs Group Advisors LLC purchased a new stake in AstraZeneca in the second quarter worth $35,000. Versant Capital Management Inc grew its stake in AstraZeneca by 1,614.8% in the second quarter. Versant Capital Management Inc now owns 463 shares of the company’s stock worth $36,000 after purchasing an additional 436 shares during the period. Finally, RFP Financial Group LLC grew its stake in AstraZeneca by 56.3% in the first quarter. RFP Financial Group LLC now owns 494 shares of the company’s stock worth $33,000 after purchasing an additional 178 shares during the period. 20.35% of the stock is owned by hedge funds and other institutional investors.

AstraZeneca Trading Up 0.4 %

Shares of NASDAQ:AZN opened at $78.37 on Friday. The company has a market cap of $242.99 billion, a P/E ratio of 38.25, a PEG ratio of 1.44 and a beta of 0.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.89 and a quick ratio of 0.69. AstraZeneca PLC has a 1 year low of $60.47 and a 1 year high of $87.68. The stock’s fifty day moving average price is $81.19 and its 200-day moving average price is $78.04.

AstraZeneca (NASDAQ:AZN) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm 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%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. Sell-side analysts expect that AstraZeneca PLC will post 4.07 earnings per share for the current year.

AstraZeneca Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 9th were issued a $0.49 dividend. This represents a yield of 1.8%. The ex-dividend date was Friday, August 9th. AstraZeneca’s dividend payout ratio is 48.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AZN shares. Citigroup raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. TD Cowen upped their price target on AstraZeneca from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut AstraZeneca from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Erste Group Bank raised AstraZeneca from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays raised AstraZeneca to a “strong-buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, AstraZeneca has a consensus rating of “Moderate Buy” and a consensus 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.