Zoetis Inc. (NYSE:ZTS) Position Cut by Alteri Wealth LLC

Alteri Wealth LLC reduced its position in shares of Zoetis Inc. (NYSE:ZTS) by 57.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,435 shares of the company’s stock after selling 1,903 shares during the quarter. Alteri Wealth LLC’s holdings in Zoetis were worth $236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Zoetis by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company’s stock worth $1,726,075,000 after acquiring an additional 190,137 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock valued at $1,133,755,000 after acquiring an additional 3,059,255 shares in the last quarter. Northern Trust Corp grew its holdings in Zoetis by 13.3% during the fourth quarter. Northern Trust Corp now owns 6,426,394 shares of the company’s stock worth $1,047,052,000 after purchasing an additional 755,893 shares during the period. Unisphere Establishment grew its holdings in Zoetis by 7.3% during the fourth quarter. Unisphere Establishment now owns 4,800,000 shares of the company’s stock worth $782,064,000 after purchasing an additional 325,000 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Zoetis by 7.6% during the first quarter. Brown Advisory Inc. now owns 4,408,542 shares of the company’s stock worth $725,866,000 after acquiring an additional 312,746 shares during the period. 92.80% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the transaction, the executive vice president owned 15,129 shares in the company, valued at approximately $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Leerink Partnrs cut Zoetis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Piper Sandler upped their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Leerink Partners downgraded shares of Zoetis from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. Stifel Nicolaus downgraded Zoetis from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $160.00 in a report on Wednesday, June 18th. Finally, UBS Group cut their price target on shares of Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.63.

Zoetis Price Performance

Shares of NYSE:ZTS opened at $151.92 on Monday. The stock has a market cap of $67.64 billion, a PE ratio of 27.28, a PEG ratio of 2.52 and a beta of 0.91. The company’s fifty day moving average is $159.91 and its 200 day moving average is $160.96. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 earnings per share. Research analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis’s payout ratio is currently 35.91%.

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.