Credit Suisse AG Sells 46,700 Shares of AstraZeneca PLC (NASDAQ:AZN)

Credit Suisse AG trimmed its position in AstraZeneca PLC (NASDAQ:AZN – Get Rating) by 40.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,519 shares of the company’s stock after selling 46,700 shares during the quarter. Credit Suisse AG’s holdings in AstraZeneca were worth $3,757,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Better Money Decisions LLC bought a new position in shares of AstraZeneca in the second quarter valued at about $25,000. Parkside Financial Bank & Trust lifted its position in AstraZeneca by 4,875.0% during the first quarter. Parkside Financial Bank & Trust now owns 398 shares of the company’s stock worth $26,000 after acquiring an additional 390 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of AstraZeneca during the second quarter worth approximately $28,000. Hazlett Burt & Watson Inc. grew its position in shares of AstraZeneca by 129.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 514 shares of the company’s stock valued at $28,000 after purchasing an additional 290 shares during the last quarter. Finally, Fairfield Bush & CO. bought a new position in shares of AstraZeneca during the first quarter worth approximately $28,000. 16.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group boosted their price target on AstraZeneca from £101 ($121.88) to £119 ($143.60) in a research note on Tuesday, February 21st. BMO Capital Markets began coverage on shares of AstraZeneca in a research report on Thursday, January 5th. They issued an “outperform” rating for the company. TheStreet raised shares of AstraZeneca from a “c” rating to an “a” rating in a research report on Monday, December 5th. Berenberg Bank boosted their price objective on shares of AstraZeneca from GBX 118 ($1.42) to GBX 126 ($1.52) in a report on Wednesday, January 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of AstraZeneca from £120 ($144.81) to £130 ($156.87) in a report on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AstraZeneca currently has an average rating of “Hold” and an average price target of $10,825.11.

AstraZeneca Stock Performance

Shares of NASDAQ:AZN opened at $65.21 on Thursday. AstraZeneca PLC has a 1 year low of $52.65 and a 1 year high of $72.12. The stock has a market capitalization of $202.13 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.86 and a quick ratio of 0.68. The company’s 50 day simple moving average is $67.92 and its 200 day simple moving average is $62.97.

AstraZeneca Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, February 24th will be issued a dividend of $0.985 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a dividend yield of 2%. This is a boost from AstraZeneca’s previous semi-annual dividend of $0.47. AstraZeneca’s payout ratio is 180.38%.

AstraZeneca Company Profile

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AstraZeneca Plc is a holding company, which engages in the research, development, and manufacture of pharmaceutical products. It focuses on the discovery, development, and commercialization of prescription medicines in Oncology and BioPharmaceuticals, including Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.