YHB Investment Advisors Inc. lifted its holdings in shares of Zoetis Inc (NYSE:ZTS) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,075 shares of the company’s stock after acquiring an additional 2,355 shares during the quarter. YHB Investment Advisors Inc.’s holdings in Zoetis were worth $2,573,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. North Star Investment Management Corp. increased its holdings in Zoetis by 0.6% in the 4th quarter. North Star Investment Management Corp. now owns 22,525 shares of the company’s stock worth $1,927,000 after purchasing an additional 125 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Zoetis by 9.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,403 shares of the company’s stock valued at $220,000 after purchasing an additional 213 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Zoetis by 2.6% during the 3rd quarter. Martingale Asset Management L P now owns 11,821 shares of the company’s stock valued at $1,083,000 after purchasing an additional 300 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Zoetis by 16.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 4,250 shares of the company’s stock valued at $389,000 after purchasing an additional 594 shares in the last quarter. Finally, WealthPLAN Partners LLC boosted its position in shares of Zoetis by 20.0% during the 3rd quarter. WealthPLAN Partners LLC now owns 3,661 shares of the company’s stock valued at $324,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 89.86% of the company’s stock.
NYSE ZTS traded up $0.18 during trading hours on Friday, reaching $86.08. 102,379 shares of the stock traded hands, compared to its average volume of 2,274,419. Zoetis Inc has a 1 year low of $70.20 and a 1 year high of $96.57. The company has a quick ratio of 2.63, a current ratio of 4.06 and a debt-to-equity ratio of 3.04. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 1.53 and a beta of 1.01.
Zoetis announced that its Board of Directors has approved a share repurchase program on Wednesday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, January 18th will be given a dividend of $0.164 per share. This represents a $0.66 annualized dividend and a yield of 0.76%. This is a boost from Zoetis’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, January 17th. Zoetis’s payout ratio is presently 20.83%.
In other Zoetis news, Director Willie M. Reed sold 3,205 shares of Zoetis stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $93.74, for a total transaction of $300,436.70. Following the sale, the director now directly owns 566 shares of the company’s stock, valued at approximately $53,056.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Juan Ramon Alaix sold 150,306 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $94.96, for a total value of $14,273,057.76. Following the completion of the sale, the chief executive officer now directly owns 246,319 shares in the company, valued at $23,390,452.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,511 shares of company stock worth $16,238,439. Insiders own 0.35% of the company’s stock.
Several research analysts have issued reports on ZTS shares. Zacks Investment Research upgraded Zoetis from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Wednesday, October 17th. Morgan Stanley set a $100.00 price target on Zoetis and gave the company a “hold” rating in a research report on Friday, November 2nd. BMO Capital Markets increased their price target on Zoetis to $93.00 and gave the company a “neutral” rating in a research report on Monday, November 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised Zoetis from a “neutral” rating to an “overweight” rating and set a $100.00 price target for the company in a research report on Monday, October 15th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $98.00 price target on shares of Zoetis in a research report on Monday, October 1st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $94.00.
Zoetis Company Profile
Zoetis Inc discovers, develops, manufactures, and markets veterinary vaccines and medicines 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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