5 Dividend Stocks to Buy According to Hari Hariharan’s NWI Management

4. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 45
Dividend Yield as of May 25: 3.58%
NWI Management’s Stake Value: $6,634,000

AstraZeneca PLC (NASDAQ:AZN) is a British-Swedish multinational pharmaceutical and biotech company that specializes in the discovery and development of prescription medicines. In Q1 2022, the company’s biopharmaceutical segment generated revenue of $5.6 billion, presenting a 49% growth from the prior-year quarter and is driven by strong sales of Covid-19 medicines.

AstraZeneca PLC (NASDAQ:AZN) pays dividends to shareholders twice a year. In February, the company announced to increase its annual dividend by $0.10 to $2.90 per share, with an interim dividend of $1.97 per share. The stock’s dividend yield, as of May 25, stood at 3.58%. In its May research note, Danske Bank highlighted the potential of AstraZeneca PLC (NASDAQ:AZN) in its oncology and rare disease medicines, which can be growth drivers for the company through 2023. In view of this, the firm lifted its price target on the stock to 13,100 GBP, with a Buy rating on the shares.

At the end of Q1 2022, 45 hedge funds tracked by Insider Monkey reported owning stakes in AstraZeneca PLC (NASDAQ:AZN), up from 42 in the previous quarter. These stakes hold a consolidated value of over $4.57 billion.

NWI Management held shares worth over $6.6 million in AstraZeneca PLC (NASDAQ:AZN) at the end of the first quarter of 2022, which accounted for 0.75% of Hari Hariharan’s portfolio.