On September 25, 2023, it was reported that FDx Advisors Inc. has increased its holdings in AstraZeneca PLC (NASDAQ:AZN) by 12.6% during the second quarter. The investment management firm disclosed this information in its most recent Form 13F filing with the Securities and Exchange Commission. According to the filing, FDx Advisors Inc. now owns 31,230 shares of AstraZeneca’s stock, having purchased an additional 3,505 shares during the quarter. At the end of the reporting period, these holdings were valued at $2,235,000.
The increase in holdings by FDx Advisors Inc. indicates their growing confidence in AstraZeneca as a profitable investment opportunity. AstraZeneca is a biopharmaceutical company headquartered in Cambridge, England that focuses on discovering and developing medicines across various therapeutic areas including cardiovascular disease, respiratory diseases, oncology, and more.
In addition to this development, AstraZeneca recently announced a semi-annual dividend payment which was disbursed on Monday, September 11th. Shareholders of record as of Friday, August 11th received a dividend of $0.465 per share. It is worth noting that the ex-dividend date for this payment was set as Thursday, August 10th.
Furthermore, the dividend yield from AstraZeneca currently stands at around 2%. This means that shareholders can expect to receive an annual return on their investment equivalent to approximately 2% based on the current market price of the stock.
AstraZeneca’s dividend payout ratio at present is around 45.73%, which reflects the proportion of earnings distributed to shareholders in relation to total net income generated by the company.
The combination of FDx Advisors Inc.’s increased holdings and AstraZeneca’s regular dividend payments showcases its commitment to creating value for its shareholders. This may bolster investor confidence in the company’s long-term prospects and potential for future growth.
Please note that this article is based on information available as of September 25, 2023, and it is advisable to consult professional financial advisors or conduct further research before making any investment decisions.
Updated on: 05/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
9:00 PM (UTC)
Date:05 December, 2023
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Institutional Investors Show Confidence in AstraZeneca as Analysts Remain Positive on Performance
In recent months, there have been notable changes in the positions of several large investors regarding their holdings in AstraZeneca (AZN). One such investor is ICA Group Wealth Management LLC, which acquired a new stake in the pharmaceutical company during the fourth quarter of last year. This stake was valued at $26,000. Similarly, Parkside Financial Bank & Trust saw a substantial increase of 4,875.0% in its holdings of AstraZeneca shares during the first quarter, now amounting to 398 shares with a value of $26,000.
Fairfield Bush & Co. also made a significant move by purchasing a new stake in AstraZeneca worth approximately $28,000 in the first quarter. Syverson Strege & Co additionally entered the scene by acquiring a new position in AstraZeneca during the same period with an investment of around $30,000. Finally, Sunbelt Securities Inc. completed this series of investments by purchasing a new position worth about $33,000.
These moves indicate an important trend: hedge funds and other institutional investors currently hold 15.68% of AstraZeneca’s stock. This suggests that these entities are recognizing the potential value and growth prospects offered by the pharmaceutical giant.
Equity research analysts have also chimed in on AstraZeneca recently. StockNews.com initiated coverage on the company and issued a “strong-buy” rating for its stock on August 23rd while Erste Group Bank maintained its “hold” rating on September 8th. HSBC gave AstraZeneca a positive evaluation as they initiated coverage with a “buy” rating on July 14th. It is worth mentioning that UBS Group upgraded their rating from “neutral” to “buy” back on July 12th.
However, it should be noted that Deutsche Bank Aktiengesellschaft took a different stance by downgrading AstraZeneca’s rating from “buy” to “hold” on July 4th. Nonetheless, overall sentiment from analysts seems to be leaning towards positivity for the company’s performance.
Currently, AstraZeneca’s stock opened at $67.83, with a fifty-day moving average price of $68.72 and a two-hundred-day moving average price of $71.10. Its stock has experienced a range between a 1-year low of $52.65 and a 1-year high of $76.56. The market capitalization for AstraZeneca now stands at an impressive $210.26 billion.
From a valuation standpoint, the company has a price-to-earnings ratio of 34.09 and a PEG ratio of 1.35, both of which investors analyze to gauge the attractiveness of an investment opportunity in relation to earnings growth potential. Moreover, AstraZeneca boasts a beta of 0.50, indicating less volatility in comparison to the wider market.
As for its financial performance, AstraZeneca reported earnings per share (EPS) of $1.08 for the quarter ended on July 28th, surpassing the consensus estimate by $0.11 per share. Additionally, during this period, the company generated revenue amounting to $11.42 billion compared with analyst expectations of approximately $11.06 billion.
AstraZeneca’s financials indicate that it achieved a return on equity (ROE) of 30.39% and maintained a net margin of 13.86%, highlighting its ability to generate strong profits relative to shareholders’ investments.
Looking ahead, equities research analysts predict that AstraZeneca PLC will post earnings per share (EPS) totaling 3.66 for the current fiscal year.
These latest developments provide interesting insights into AstraZeneca’s position in terms of investor sentiment and financial performance up until September 25, 2023. Although the stock has experienced some changes and rating updates, most analysts seem optimistic about its prospects. Only time will tell how these predictions align with the company’s future performance in an ever-evolving market landscape.