Essex Financial Services Inc. Has $427,000 Stock Holdings in AstraZeneca PLC (NASDAQ:AZN)

Essex Financial Services Inc. lifted its position in shares of AstraZeneca PLC (NASDAQ:AZN) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,334 shares of the company’s stock after purchasing an additional 328 shares during the period. Essex Financial Services Inc.’s holdings in AstraZeneca were worth $427,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AZN. Anchor Investment Management LLC acquired a new position in AstraZeneca in the 4th quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new position in AstraZeneca in the 4th quarter valued at about $27,000. Nemes Rush Group LLC grew its stake in AstraZeneca by 375.6% in the 3rd quarter. Nemes Rush Group LLC now owns 428 shares of the company’s stock valued at $29,000 after buying an additional 338 shares during the last quarter. LWM Advisory Services LLC acquired a new position in AstraZeneca in the 3rd quarter valued at about $35,000. Finally, Arlington Trust Co LLC acquired a new position in AstraZeneca in the 4th quarter valued at about $37,000. 20.35% of the stock is currently owned by institutional investors and hedge funds.

AstraZeneca Stock Performance

NASDAQ AZN opened at $76.35 on Friday. The firm has a 50-day moving average price of $68.17 and a two-hundred day moving average price of $66.30. AstraZeneca PLC has a 12-month low of $60.47 and a 12-month high of $76.80. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $236.72 billion, a P/E ratio of 37.43, a P/E/G ratio of 1.38 and a beta of 0.47.

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

AstraZeneca Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.965 per share. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from AstraZeneca’s previous Semi-Annual dividend of $0.47. AstraZeneca’s dividend payout ratio is 94.61%.

Wall Street Analysts Forecast Growth

AZN has been the topic of a number of research reports. Morgan Stanley assumed coverage on shares of AstraZeneca in a research note on Tuesday, January 23rd. They issued an “overweight” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets boosted 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 research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, AstraZeneca presently has a consensus rating of “Moderate Buy” and an average price target of $81.00.

About AstraZeneca

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.