10 Best UK Stocks to Buy According to Billionaires

2. AstraZeneca PLC (NASDAQ:AZN)

Number of Billionaire Investors: 14

Value of Billionaire Holdings: $2.20 billion

AstraZeneca PLC (NASDAQ:AZN) was incorporated in 1992 and is based in Cambridge, UK. The company is focused on discovering, developing, and delivering prescription medicines for cancer, heart and kidney diseases, respiratory conditions, and rare diseases. On March 19, investment advisory TD Cowen maintained a Buy rating on AZN with a price target of $95, citing the potential of the company’s new product pipeline and its reach in big, high-growth end markets.

On March 21, AstraZeneca PLC (NASDAQ:AZN) announced plans to invest $2.5 billion incrementally over five years to build a research and development center in Beijing, China. This will be the company’s second R&D facility in China and will enhance partnerships in the country’s life sciences sector. AstraZeneca will work with local biotechs and hospitals, build a new AI-focused lab, and inaugurate its first vaccine manufacturing site in China.

In 2024, AstraZeneca PLC (NASDAQ:AZN) boosted its net cash from operating activities by $1.5 billion. It also expanded operations through notable acquisitions like Amolyt, Icosavax, and Fusion while paying off close to $7 billion in debt. Dividends were bumped up to $3.10 per share for 2024, with another increase to $3.20 planned for this year. It is one of the best UK stocks to buy.

Overall, 55 hedge funds were bullish on AstraZeneca PLC (NASDAQ:AZN) in Q4 2024, and it was part of 14 billionaire portfolios that had combined stakes worth $2.20 billion. Billionaire Ken Griffin boosted his AZN stake by a whopping 842% in Q4, holding 4.2 million shares valued at $276.6 million.