Cornerstone Wealth Group LLC Has $423,000 Stake in Zoetis Inc. $ZTS

Cornerstone Wealth Group LLC increased its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,712 shares of the company’s stock after purchasing an additional 455 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Zoetis were worth $423,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ZTS. NorthRock Partners LLC raised its position in Zoetis by 12.3% during the second quarter. NorthRock Partners LLC now owns 6,115 shares of the company’s stock worth $954,000 after acquiring an additional 672 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Zoetis by 1.9% during the second quarter. Verdence Capital Advisors LLC now owns 11,057 shares of the company’s stock worth $1,724,000 after acquiring an additional 211 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Zoetis by 64.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 67,448 shares of the company’s stock worth $10,519,000 after acquiring an additional 26,337 shares in the last quarter. Concord Wealth Partners raised its position in Zoetis by 31.6% during the second quarter. Concord Wealth Partners now owns 408 shares of the company’s stock worth $64,000 after acquiring an additional 98 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Zoetis by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 39,283 shares of the company’s stock worth $6,126,000 after acquiring an additional 518 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Leerink Partnrs lowered shares of Zoetis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Zoetis in a research report on Wednesday, October 8th. Argus reaffirmed a “buy” rating and set a $190.00 price target on shares of Zoetis in a research report on Tuesday, September 9th. Leerink Partners lowered shares of Zoetis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Piper Sandler upped their price target on shares of Zoetis from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $196.71.

Zoetis Price Performance

Shares of ZTS opened at $143.45 on Wednesday. The firm has a market capitalization of $63.58 billion, a PE ratio of 24.69, a PEG ratio of 2.28 and a beta of 0.90. The company’s 50-day moving average is $148.98 and its 200-day moving average is $154.11. Zoetis Inc. has a fifty-two week low of $139.34 and a fifty-two week high of $196.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a net margin of 27.83% and a return on equity of 56.90%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Friday, October 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 34.42%.

Zoetis Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.