NewEdge Wealth LLC Sells 6,908 Shares of Zoetis Inc. $ZTS

NewEdge Wealth LLC reduced its holdings in Zoetis Inc. (NYSE:ZTS) by 45.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,165 shares of the company’s stock after selling 6,908 shares during the period. NewEdge Wealth LLC’s holdings in Zoetis were worth $965,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ZTS. First Citizens Bank & Trust Co. boosted its position in Zoetis by 5.6% during the first quarter. First Citizens Bank & Trust Co. now owns 61,747 shares of the company’s stock valued at $7,299,000 after purchasing an additional 3,252 shares during the last quarter. ABN Amro Investment Solutions increased its position in shares of Zoetis by 7.4% during the 1st quarter. ABN Amro Investment Solutions now owns 21,040 shares of the company’s stock worth $2,487,000 after purchasing an additional 1,454 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of Zoetis during the 1st quarter worth approximately $185,000. Baader Bank Aktiengesellschaft raised its stake in shares of Zoetis by 1.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 35,012 shares of the company’s stock worth $4,139,000 after purchasing an additional 548 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Zoetis in the 1st quarter valued at approximately $28,000. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul Bisaro purchased 2,000 shares of Zoetis stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $75.88 per share, for a total transaction of $151,760.00. Following the purchase, the director directly owned 27,862 shares of the company’s stock, valued at $2,114,168.56. This trade represents a 7.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank A. Damelio acquired 6,650 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $75.39 per share, for a total transaction of $501,343.50. Following the completion of the acquisition, the director owned 21,458 shares in the company, valued at approximately $1,617,718.62. This represents a 44.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 11,650 shares of company stock valued at $886,384. 0.22% of the stock is owned by insiders.

Zoetis Trading Up 2.1%

ZTS stock opened at $76.91 on Tuesday. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.15 and a quick ratio of 1.91. The company has a fifty day moving average price of $77.27 and a two-hundred day moving average price of $103.71. Zoetis Inc. has a one year low of $71.47 and a one year high of $160.48. The stock has a market cap of $32.24 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.75.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.07). Zoetis had a net margin of 27.80% and a return on equity of 66.85%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Zoetis’s revenue for the quarter was up 2.9% on a year-over-year basis. Zoetis has set its FY 2026 guidance at 6.850-7.000 EPS. Equities analysts anticipate that Zoetis Inc. will post 6.87 EPS for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.8%. Zoetis’s dividend payout ratio is presently 35.16%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ZTS shares. UBS Group decreased their target price on shares of Zoetis from $99.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday. Argus reiterated a “hold” rating on shares of Zoetis in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Zoetis from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. HSBC lowered their price objective on shares of Zoetis from $140.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Citigroup cut their target price on shares of Zoetis from $145.00 to $112.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.33.

Zoetis Profile

Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.

Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.