Independent Advisor Alliance trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 75.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,451 shares of the company’s stock after selling 4,345 shares during the quarter. Independent Advisor Alliance’s holdings in Zoetis were worth $240,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV purchased a new position in shares of Zoetis in the 2nd quarter valued at approximately $46,000. Marshall Wace LLP raised its holdings in shares of Zoetis by 23.7% during the 2nd quarter. Marshall Wace LLP now owns 2,114,784 shares of the company’s stock worth $289,809,000 after acquiring an additional 404,604 shares during the period. Private Trust Co. NA increased its position in shares of Zoetis by 3.9% during the 3rd quarter. Private Trust Co. NA now owns 14,776 shares of the company’s stock worth $2,443,000 after purchasing an additional 553 shares during the last quarter. PFG Advisors acquired a new position in Zoetis in the 3rd quarter valued at about $1,100,000. Finally, Valeo Financial Advisors LLC grew its position in shares of Zoetis by 7.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,397 shares of the company’s stock worth $328,000 after buying an additional 164 shares in the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.
In other Zoetis news, EVP Roxanne Lagano sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $160.37, for a total value of $962,220.00. Following the sale, the executive vice president now directly owns 41,680 shares in the company, valued at approximately $6,684,221.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Heidi C. Chen sold 1,179 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $161.43, for a total transaction of $190,325.97. Following the completion of the transaction, the executive vice president now directly owns 17,514 shares in the company, valued at approximately $2,827,285.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,124 shares of company stock valued at $3,365,920. 0.17% of the stock is currently owned by insiders.
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A number of equities research analysts have weighed in on ZTS shares. Truist Financial boosted their price objective on Zoetis from $112.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, August 10th. They noted that the move was a valuation call. Morgan Stanley upped their target price on Zoetis from $125.00 to $167.00 and gave the company an “equal weight” rating in a report on Thursday, August 20th. Bank of America upped their price objective on Zoetis from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Atlantic Securities started coverage on Zoetis in a research report on Monday, September 21st. They set an “overweight” rating and a $191.00 target price on the stock. Finally, Gabelli downgraded Zoetis from a “buy” rating to a “hold” rating in a report on Wednesday, August 12th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $159.40.
NYSE ZTS opened at $165.19 on Friday. The stock has a market cap of $78.51 billion, a PE ratio of 49.02, a PEG ratio of 4.35 and a beta of 0.71. The firm’s fifty day moving average price is $163.26 and its two-hundred day moving average price is $148.62. The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.60 and a current ratio of 3.47. Zoetis Inc. has a fifty-two week low of $90.14 and a fifty-two week high of $176.64.
Zoetis (NYSE:ZTS) last released its earnings results on Thursday, November 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.19. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.63 billion. Zoetis had a net margin of 25.50% and a return on equity of 63.89%. Zoetis’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. As a group, sell-side analysts predict that Zoetis Inc. will post 3.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, October 21st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Tuesday, October 20th. Zoetis’s payout ratio is presently 21.98%.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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