Allspring Global Investments Holdings LLC Has $165.95 Million Stock Position in Astrazeneca Plc $AZN

Allspring Global Investments Holdings LLC lowered its stake in shares of Astrazeneca Plc (NYSE:AZN) by 49.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 828,369 shares of the company’s stock after selling 800,402 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Astrazeneca worth $165,953,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AZN. Triumph Capital Management acquired a new stake in Astrazeneca in the third quarter valued at $25,000. MV Capital Management Inc. bought a new stake in shares of Astrazeneca in the 4th quarter valued at about $26,000. Mascoma Wealth Management LLC acquired a new stake in Astrazeneca in the 1st quarter valued at about $26,000. Bangor Savings Bank lifted its stake in Astrazeneca by 102.7% in the 4th quarter. Bangor Savings Bank now owns 304 shares of the company’s stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in Astrazeneca during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 20.35% of the company’s stock.

Astrazeneca Trading Up 0.4%

Shares of NYSE:AZN opened at $169.08 on Friday. Astrazeneca Plc has a 12-month low of $137.23 and a 12-month high of $212.71. The stock has a market cap of $262.23 billion, a PE ratio of 25.39, a P/E/G ratio of 1.37 and a beta of 0.24. The business has a 50 day moving average of $182.44 and a 200-day moving average of $188.47. The company has a quick ratio of 0.71, a current ratio of 0.91 and a debt-to-equity ratio of 0.52.

Astrazeneca (NYSE:AZN) last announced its earnings results on Wednesday, April 29th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.06. The company had revenue of $15.29 billion for the quarter, compared to analyst estimates of $14.93 billion. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%. As a group, equities research analysts forecast that Astrazeneca Plc will post 10.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AZN shares. DZ Bank upgraded Astrazeneca from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 29th. UBS Group reissued a “buy” rating on shares of Astrazeneca in a report on Friday, April 10th. HSBC cut Astrazeneca from a “buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings downgraded Astrazeneca from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Astrazeneca currently has a consensus rating of “Moderate Buy” and an average price target of $211.00.

About Astrazeneca

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.