Cullen Frost Bankers Inc. Trims Stake in AstraZeneca PLC (NASDAQ:AZN)

Cullen Frost Bankers Inc. cut its stake in AstraZeneca PLC (NASDAQ:AZN) by 1.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,748 shares of the company’s stock after selling 1,633 shares during the period. Cullen Frost Bankers Inc.’s holdings in AstraZeneca were worth $11,230,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AZN. Cerity Partners LLC boosted its holdings in shares of AstraZeneca by 113.0% during the fourth quarter. Cerity Partners LLC now owns 95,677 shares of the company’s stock worth $6,444,000 after purchasing an additional 50,750 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in AstraZeneca by 51.8% in the third quarter. Oppenheimer & Co. Inc. now owns 14,424 shares of the company’s stock worth $977,000 after buying an additional 4,919 shares during the period. Barclays PLC lifted its holdings in AstraZeneca by 317.4% in the third quarter. Barclays PLC now owns 1,242,431 shares of the company’s stock worth $84,136,000 after buying an additional 944,765 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in AstraZeneca by 43.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 163,011 shares of the company’s stock worth $10,979,000 after buying an additional 49,541 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in AstraZeneca in the third quarter worth about $2,241,000. 20.35% of the stock is currently owned by hedge funds and other institutional investors.

AstraZeneca Stock Performance

Shares of AstraZeneca stock traded up $0.65 on Wednesday, hitting $76.97. The stock had a trading volume of 3,855,907 shares, compared to its average volume of 6,343,158. The company’s 50 day moving average price is $68.78 and its 200 day moving average price is $66.51. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 0.73. The stock has a market cap of $238.64 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 1.38 and a beta of 0.47. AstraZeneca PLC has a 52-week low of $60.47 and a 52-week high of $77.16.

AstraZeneca (NASDAQ:AZN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). AstraZeneca had a net margin of 13.30% and a return on equity of 30.42%. The company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $12.07 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, research analysts anticipate that AstraZeneca PLC will post 4.01 EPS for the current year.

AstraZeneca Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, March 25th. Investors of record on Friday, February 23rd were paid a $0.965 dividend. The ex-dividend date was Thursday, February 22nd. This represents a yield of 2.3%. This is a positive change from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s dividend payout ratio is presently 94.61%.

Wall Street Analysts Forecast Growth

AZN has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of AstraZeneca in a research report on Tuesday, January 23rd. They issued an “overweight” rating for the company. BMO Capital Markets upped their price objective on AstraZeneca from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft raised AstraZeneca from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.00.

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.