Foundation Wealth Management LLC PA Invests in AstraZeneca PLC (NASDAQ:AZN)

Foundation Wealth Management LLC PA has recently acquired a new stake in AstraZeneca PLC (NASDAQ:AZN), as noted in its latest Form 13F submission to the Securities and Exchange Commission. During the fourth quarter, the firm purchased 38,376 shares of AstraZeneca, valued at approximately $2,514,000. This investment now represents around 1.2% of Foundation Wealth Management's overall portfolio, making AstraZeneca its 28th largest holding.

Recent Changes by Other Investors

Several other institutional investors have also adjusted their positions in AstraZeneca. Connor Clark & Lunn Investment Management Ltd. increased its stake by 39.3% in the third quarter, bringing its total to 17,810 shares worth $1,388,000 after acquiring an additional 5,022 shares. Massachusetts Financial Services Co. MA also raised its stake in the company by 4.7%, resulting in ownership of 28,601 shares valued at $2,228,000 after buying an extra 1,272 shares. Centaurus Financial Inc. saw a remarkable 72.7% increase, now holding 4,037 shares valued at $315,000 after a purchase of 1,700 shares. Daiwa Securities Group Inc. expanded its holdings by 58.1%, accumulating 55,490 shares worth $4,323,000 following an additional buy of 20,398 shares. Lastly, Brown Brothers Harriman & Co. lifted its holdings by 7.3%, owning 6,506 shares valued at $507,000 after acquiring 444 shares. Overall, institutional investors hold about 20.35% of AstraZeneca's stock.

Market Analysts' Opinions

Various analysts have expressed their views on AstraZeneca's shares. Morgan Stanley recently started coverage, giving the stock an "overweight" rating. UBS Group upgraded AstraZeneca from a "neutral" to a "buy" rating shortly thereafter. Presently, one analyst is holding a rating, while seven analysts recommend buying the stock and two have assigned a strong buy rating. According to MarketBeat, AstraZeneca holds an average rating of "Buy" with a consensus target price set at $89.75.

AstraZeneca's Stock Performance

As of Thursday, AstraZeneca shares opened at $72.72. The company has a current ratio of 0.93, a quick ratio of 0.74, and a debt-to-equity ratio of 0.65. The fifty-day simple moving average stands at $73.29, while the 200-day simple moving average is at $71.78. AstraZeneca PLC boasts a market capitalization of $225.52 billion, a price-to-earnings ratio of 32.18, and a PEG ratio of 1.42. Over the past year, the stock has traded between a low of $62.75 and a high of $87.68.

Recent Earnings Report

The company last reported its earnings on February 6th, revealing earnings per share of $1.05, which fell short of the consensus estimate of $1.10. AstraZeneca's return on equity was 32.23%, with a net margin of 13.01%. Analysts foresee that AstraZeneca PLC will post earnings of 4.51 per share for the current fiscal year.

Dividend Increase

AstraZeneca recently announced an increase in its semi-annual dividend, which was paid on March 24th. Shareholders on record as of February 21st received a dividend of $1.03 per share, resulting in a yield of 2%. This marks an increase from the previous semi-annual dividend of $0.49. Currently, AstraZeneca's dividend payout ratio is 91.15%.

Overview of AstraZeneca

AstraZeneca PLC is a biopharmaceutical company that is dedicated to discovering, developing, manufacturing, and marketing prescription medicines. The company's product portfolio includes medications for various fields such as oncology, cardiovascular health, and renal disease, featuring well-known drugs like Tagrisso, Imfinzi, and Lynparza among others.

Investment, Stocks, AstraZeneca