13 Best Pharma Dividend Stocks To Buy In 2024

10. Zoetis Inc. (NYSE:ZTS)

Dividend Yield as of December 28: 1.21%

Number of Hedge Fund Holders: 62

Zoetis Inc. (NYSE:ZTS) ranks 10th on our list of the best dividend stocks in the pharma industry. The company specializes in the development, manufacturing, and marketing of animal health products, including medicines, vaccines, and diagnostics, both in the US and internationally. Zoetis Inc. (NYSE:ZTS) also provides point-of-care diagnostic tools, blood glucose monitors, and non-pharmaceutical products like nutritionals and genetic tests.

Zoetis Inc. (NYSE:ZTS) has seen impressive growth in the third quarter of 2024, with a 14% increase in revenue and a 15% rise in adjusted net income. This success is driven by strong demand across key product areas, including companion animals and livestock. Their focus on innovation, such as the osteoarthritis pain treatments Librela and Solensia, has been transformative, with Librela alone achieving 97% revenue growth globally. In the United States, Librela has already become the fourth-largest pet care product, with the potential to expand further. Zoetis Inc. (NYSE:ZTS)’s dermatology franchise, including Apoquel, has also seen significant success, growing from a $70 million to a $1.5 billion market, making Apoquel the top prescribed medication in animal health. The company’s commitment to innovation and strong customer relationships position them well for the future.

On December 12, Zoetis Inc. (NYSE:ZTS) declared a $0.50 per share quarterly dividend, a 16% increase from its previous dividend of $0.43. The dividend is distributable on March 4, 2025, to shareholders on record as of January 21.

Zoetis Inc. (NYSE:ZTS) was a part of 62 hedge fund portfolios at the end of the third quarter, compared to 61 in the prior quarter. William Von Mueffling’s Cantillon Capital Management is the largest position holder in the company, with 1.28 million shares worth $251.3 million.