Thrive Wealth Management LLC, a prominent financial management firm, has recently made headlines with its acquisition of a new stake in AstraZeneca PLC (NASDAQ:AZN). According to their most recent Form 13F filing with the Securities & Exchange Commission, Thrive Wealth Management LLC acquired 3,817 shares of AstraZeneca’s stock during the second quarter. The value of this stake is estimated to be approximately $273,000.
AstraZeneca is a leading pharmaceutical company that operates on a global scale. Their diverse portfolio includes innovative drugs and treatments for various medical conditions. This strategic investment by Thrive Wealth Management LLC reflects their belief in the long-term potential and value of AstraZeneca as an investment opportunity.
When reviewing AstraZeneca’s recent performance, it is evident that the company has been making significant strides. In its last quarterly earnings report on July 28th, AstraZeneca reported earnings per share (EPS) of $1.08 for the quarter. This exceeded analysts’ consensus estimates of $0.97 by an impressive margin of $0.11.
Notably, AstraZeneca achieved a return on equity of 30.39% and a net margin of 13.86%. These figures illustrate the company’s solid financial performance and underscore its ability to generate profitable returns for investors. Furthermore, AstraZeneca recorded revenue of $11.42 billion for the quarter, surpassing analysts’ expectations of $11.06 billion.
Looking ahead, industry analysts anticipate that AstraZeneca PLC will continue to exhibit strong financial results and growth prospects in the coming months. They project that the company will post an EPS of 3.66 for the current year, based on their comprehensive analysis and assessment.
This promising outlook provides further validation for Thrive Wealth Management LLC’s decision to acquire shares in AstraZeneca at this time. As savvy investors, they recognize the potential benefits of investing in a company with a proven track record of success and a positive industry reputation.
In conclusion, Thrive Wealth Management LLC’s recent acquisition of a stake in AstraZeneca PLC demonstrates their confidence in the company’s capabilities and future prospects. With AstraZeneca’s impressive financial performance and an optimistic outlook from industry analysts, this investment presents an opportunity for growth and value for both Thrive Wealth Management LLC and other investors seeking to maximize their portfolios.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors Show Confidence in AstraZeneca’s Potential for Growth and Profitability
In recent months, there has been a significant shift in the holdings of several hedge funds and institutional investors regarding AstraZeneca (NASDAQ:AZN). Notably, Aspire Private Capital LLC made a substantial investment in the pharmaceutical company during the first quarter of this year, acquiring shares worth an estimated $17,491,320,000. Additionally, ICA Group Wealth Management LLC purchased new stakes in AstraZeneca towards the end of 2022.
Another notable investor is Parkside Financial Bank & Trust, who experienced a staggering 4,875.0% increase in their position during the first quarter alone. This surge saw the financial institution’s ownership of AstraZeneca rise to 398 shares with a value of $26,000. Fairfield Bush & CO. also joined the growing list of institutional investors buying into AstraZeneca by purchasing new shares worth approximately $28,000 earlier this year.
Furthermore, Syverson Strege & Co capitalized on the opportunity by acquiring a new position in AstraZeneca shares valued at around $30,000 during the first quarter as well. This wave of investment activities highlights the confidence that these institutional investors have in AstraZeneca and its potential for growth and profitability.
At present, NASDAQ:AZN opened at $66.63 on Tuesday- a modest figure when compared to its one-year high of $76.56 but still higher than its one-year low of $52.65. The fifty-day moving average price stands at $68.66 with a two-hundred-day moving average price close behind at $71.11.
While some investors may express concerns about leverage within companies they invest in, AstraZeneca remains promising with only a moderate debt-to-equity ratio of 0.65. Its current ratio and quick ratio provide further reassurance with values of 0.87 and 0.67 respectively.
As of now, AstraZeneca boasts a market cap of $206.54 billion and a price-to-earnings (P/E) ratio of 33.48. Additionally, its projected growth is satisfactory, with a P/E to growth (PEG) ratio of 1.36 and a beta value of 0.50.
In terms of dividend yield, AstraZeneca recently announced its semi-annual dividend which was paid on September 11th. Stockholders recorded on August 11th received a dividend of $0.465 per share. The ex-dividend date for this payment took place on August 10th, resulting in a current dividend yield percentage of 2%. The dividend payout ratio (DPR) for AstraZeneca stands at an impressive 45.73%.
Multiple analysts have been monitoring the progress of AstraZeneca and have offered their insights and opinions on the company’s performance. For example, Argus reduced their price target from $85.00 to $80.00, while Deutsche Bank Aktiengesellschaft downgraded AstraZeneca from a “buy” rating to a “hold.” In contrast, HSBC initiated coverage by confidently assigning the pharmaceutical giant a “buy” rating.
UBS Group also upgraded their assessment of AstraZeneca from “neutral” to “buy,” indicating strong confidence in the company’s future prospects. Similar sentiments were echoed by Erste Group Bank who reaffirmed their “hold” rating on AstraZeneca shares more recently.
It is essential to note that Bloomberg.com suggests that there is consensus among analysts regarding AstraZeneca’s potential as they collectively rate it as a “Moderate Buy.” Additionally, they have assigned the stock a consensus target price of $103.00.
These developments within institutional investments and expert analysis showcase growing investor confidence in AstraZeneca’s ability to deliver favorable returns despite recent fluctuations in the stock market. It will undoubtedly be interesting to observe AstraZeneca’s future growth and performance as it continues to attract attention from various investment entities.