Fred Alger Management Inc. purchased a new position in shares of Zoetis Inc (NYSE:ZTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,487 shares of the company’s stock, valued at approximately $5,582,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Zoetis during the fourth quarter worth about $108,000. Steward Partners Investment Advisory LLC bought a new position in Zoetis during the third quarter worth about $114,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in Zoetis by 251.9% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,900 shares of the company’s stock worth $121,000 after purchasing an additional 1,360 shares during the period. Icon Wealth Partners LLC bought a new position in Zoetis during the fourth quarter worth about $127,000. Finally, Advisory Services Network LLC lifted its stake in Zoetis by 42.4% during the fourth quarter. Advisory Services Network LLC now owns 2,423 shares of the company’s stock worth $175,000 after purchasing an additional 721 shares during the period. Hedge funds and other institutional investors own 92.45% of the company’s stock.
Shares of Zoetis Inc (NYSE:ZTS) opened at $84.52 on Monday. The company has a quick ratio of 2.55, a current ratio of 3.85 and a debt-to-equity ratio of 2.77. The firm has a market cap of $41,013.64, a P/E ratio of 35.22, a P/E/G ratio of 1.90 and a beta of 0.97. Zoetis Inc has a fifty-two week low of $52.25 and a fifty-two week high of $85.05.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, April 20th will be issued a $0.126 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, April 19th. Zoetis’s dividend payout ratio is currently 28.57%.
In related news, insider Heidi C. Chen sold 37,453 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $81.02, for a total value of $3,034,442.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Roxanne Lagano sold 35,663 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $81.02, for a total transaction of $2,889,416.26. Following the completion of the sale, the executive vice president now directly owns 49,919 shares of the company’s stock, valued at approximately $4,044,437.38. The disclosure for this sale can be found here. In the last three months, insiders sold 97,001 shares of company stock valued at $7,882,428. 0.31% of the stock is currently owned by company insiders.
ZTS has been the subject of a number of analyst reports. Cowen set a $80.00 price target on shares of Zoetis and gave the stock a “buy” rating in a research note on Friday, November 17th. Morgan Stanley upgraded shares of Zoetis from an “equal weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Wednesday, November 29th. Cantor Fitzgerald set a $85.00 target price on shares of Zoetis and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup upgraded shares of Zoetis from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, January 4th. Finally, UBS Group reiterated a “neutral” rating on shares of Zoetis in a research note on Friday, November 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $80.28.
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Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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