5 Best Dividend Stocks of 2023

1. West Pharmaceutical Services, Inc. (NYSE:WST)

Year-to-date Returns as of April 28: 55.2%

West Pharmaceutical Services, Inc. (NYSE:WST) is an American company that deals in the packaging and distribution of pharmaceuticals. The company currently offers a quarterly dividend of $0.19 per share and has a dividend yield of 0.21%, as of April 28. It is one of the best dividend stocks on our list as it has raised its payouts for 30 years straight.

As of the close of Q4 2022, 41 hedge funds tracked by Insider Monkey owned stakes in West Pharmaceutical Services, Inc. (NYSE:WST), up from 39 in the previous quarter. These stakes have a collective value of over $757.8 million.

Conestoga Capital Advisors mentioned West Pharmaceutical Services, Inc. (NYSE:WST) in its Q3 2022 investor letter. Here is what the firm has to say:

“West Pharmaceutical Services, Inc. (NYSE:WST): Similar to its industry peers, WST saw its share price decline despite solid overall results. WST reported 23% organic growth (ex-COVID) in the second quarter as the biologics market continues to perform well. WST did reduce full-year guidance by $100 million to account for greater foreign currency headwinds ($75mm impact) and slowing COVID demand ($85mm impact). This implies a guidance raise of $60 million on the base business, which we view as important to driving long term appreciation. WST also set expectations for COVID revenue to decline by 30-50% in 2023 after declining 20% to $375 million in 2022.”

You can also take a look at 10 Best Dividend ETFs in 2023 and 10 Best Mobile Gaming Stocks to Buy Now

Follow Insider Monkey on Twitter