Doyle Wealth Management reduced its holdings in Zoetis Inc (NYSE:ZTS) by 29.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,245 shares of the company’s stock after selling 1,811 shares during the quarter. Doyle Wealth Management’s holdings in Zoetis were worth $529,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JJJ Advisors Inc. purchased a new position in shares of Zoetis in the second quarter worth approximately $25,000. Prestige Wealth Management Group LLC purchased a new position in Zoetis during the second quarter valued at approximately $27,000. Tarbox Family Office Inc. grew its position in Zoetis by 74.4% during the third quarter. Tarbox Family Office Inc. now owns 218 shares of the company’s stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Altshuler Shaham Ltd grew its position in Zoetis by 198.8% during the second quarter. Altshuler Shaham Ltd now owns 254 shares of the company’s stock valued at $29,000 after purchasing an additional 169 shares in the last quarter. Finally, Tradewinds Capital Management LLC purchased a new position in Zoetis during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.17% of the company’s stock.
A number of brokerages recently commented on ZTS. Morgan Stanley boosted their price objective on shares of Zoetis from $100.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Credit Suisse Group set a $138.00 target price on shares of Zoetis and gave the company a “buy” rating in a research note on Friday, October 11th. Stifel Nicolaus set a $140.00 target price on shares of Zoetis and gave the company a “buy” rating in a research note on Friday, September 13th. Argus set a $140.00 target price on shares of Zoetis and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, SunTrust Banks lifted their target price on shares of Zoetis from $120.00 to $130.00 and gave the company a “hold” rating in a research note on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $125.20.
Zoetis stock traded down $0.79 on Wednesday, hitting $119.74. The company’s stock had a trading volume of 2,566,481 shares, compared to its average volume of 2,132,875. The firm has a market cap of $57.40 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.76 and a beta of 0.80. The company has a quick ratio of 3.02, a current ratio of 4.39 and a debt-to-equity ratio of 2.47. The company has a fifty day moving average price of $122.21 and a 200-day moving average price of $118.63. Zoetis Inc has a one year low of $78.90 and a one year high of $130.20.
Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, November 7th. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Zoetis had a net margin of 23.76% and a return on equity of 70.78%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Zoetis Inc will post 3.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.164 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, October 21st. Zoetis’s dividend payout ratio is currently 21.09%.
In related news, EVP Clinton A. Jr. Lewis sold 6,123 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $128.62, for a total value of $787,540.26. Following the sale, the executive vice president now directly owns 39,141 shares in the company, valued at approximately $5,034,315.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn David sold 4,440 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $120.02, for a total transaction of $532,888.80. Following the completion of the sale, the chief financial officer now owns 16,728 shares in the company, valued at $2,007,694.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,040 shares of company stock worth $15,554,852. Insiders own 0.29% of the company’s stock.
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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