5 Best Foreign Dividend Stocks To Invest In

4. AstraZeneca plc (NASDAQ:AZN)

Number of Hedge Fund Holders: 49

AstraZeneca plc (NASDAQ:AZN) is a Cambridge-based global biopharmaceutical company that engages in the research, development, manufacturing, and marketing of prescription medications. The company pays an interim dividend of $0.93 per share and has a dividend yield of 2.21%, as of January 26.

Insider Monkey’s database of Q3 2023 indicated that 49 hedge funds owned stakes in AstraZeneca plc (NASDAQ:AZN), up from 41 in the preceding quarter. The total value of stakes owned by these hedge funds is over $2.64 billion.

ClearBridge Investments mentioned AstraZeneca plc (NASDAQ:AZN) in its Q4 2023 investor letter. Here is what the firm has to say:

“In the second half of 2023 — as we were selling low-growth, high-multiple stocks and taking advantage of oversold conditions in infrastructure, real estate and utilities — we also found opportunities in overlooked areas of health care. After adding Gilead in the third quarter, we bought AstraZeneca PLC (NASDAQ:AZN) in the fourth quarter. Each of these stocks present distinct investment cases, but both are reasonably valued and have limited patent expiry or pipeline risk. Gilead’s strength comes from its dominant franchise in HIV. It offers lower growth, but it yields nearly 4% and trades at 11x earnings. AstraZeneca possesses a diversified portfolio of pharmaceuticals, which should deliver double-digit earnings growth, yet it trades at just 16x earnings. These stocks were underwritten individually, but collectively we like the idea of increasing our exposure to defensive and growing health care names at below-market multiples.”