Nachman Norwood & Parrott Inc Invests $541,000 in AstraZeneca plc (NYSE:AZN)

Nachman Norwood & Parrott Inc acquired a new position in AstraZeneca plc (NYSE:AZN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,254 shares of the company’s stock, valued at approximately $541,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Legacy Financial Advisors Inc. lifted its position in AstraZeneca by 38.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 2,031 shares of the company’s stock valued at $77,000 after purchasing an additional 566 shares in the last quarter. Factorial Partners LLC purchased a new position in AstraZeneca during the third quarter valued at $119,000. NEXT Financial Group Inc purchased a new position in AstraZeneca during the third quarter valued at $169,000. Sit Investment Associates Inc. purchased a new position in AstraZeneca during the fourth quarter valued at $171,000. Finally, Belpointe Asset Management LLC purchased a new position in AstraZeneca during the third quarter valued at $197,000. 17.24% of the stock is owned by institutional investors.

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Shares of AstraZeneca stock traded up $0.07 during trading hours on Friday, hitting $37.01. The company’s stock had a trading volume of 3,424,063 shares, compared to its average volume of 5,322,751. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $93.57 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.96 and a beta of 0.51. AstraZeneca plc has a 12-month low of $32.69 and a 12-month high of $41.78.

AstraZeneca (NYSE:AZN) last posted its earnings results on Thursday, November 8th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.38. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.26 billion. AstraZeneca had a return on equity of 27.32% and a net margin of 11.29%. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. On average, equities analysts expect that AstraZeneca plc will post 1.64 earnings per share for the current year.

Several equities analysts have recently commented on AZN shares. Deutsche Bank restated a “buy” rating on shares of AstraZeneca in a research report on Monday, November 12th. Credit Suisse Group restated a “buy” rating on shares of AstraZeneca in a research report on Sunday, December 9th. ValuEngine upgraded AstraZeneca from a “hold” rating to a “buy” rating in a research report on Thursday, December 13th. SunTrust Banks started coverage on AstraZeneca in a research report on Thursday, December 13th. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Bank of America restated a “buy” rating on shares of AstraZeneca in a research report on Friday, December 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.50.

AstraZeneca Profile

AstraZeneca PLC discovers, develops, and commercializes prescription medicines for the treatment of oncology, cardiovascular and metabolic, respiratory, gastrointestinal, neuroscience, and infection diseases worldwide. Its marketed products include Arimidex, Casodex/Cosudex, Calquence, Faslodex, Imfinzi, Iressa, Lynparza, Nolvadex, Tagrisso, and Zoladex for oncology diseases; Atacand1/Atacand HCT/Atacand Plus, Brilinta/Brilique, Crestor2, Plendil, Seloken/Toprol-XL4, Tenormin5, and Zestril6 for cardiovascular diseases; and Bydureon, Byetta, Farxiga/Forxiga, Kombiglyze XR, Komboglyze, Onglyza, Qtern, Symlin, Xigduo, and Xigduo XR for metabolic diseases.

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