Zoetis Inc. (NYSE:ZTS) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its position in Zoetis Inc. (NYSE:ZTS) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,499 shares of the company’s stock after selling 22,868 shares during the period. SVB Wealth LLC’s holdings in Zoetis were worth $15,296,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ZTS. Wellington Management Group LLP grew its position in Zoetis by 2.5% in the third quarter. Wellington Management Group LLP now owns 12,344,692 shares of the company’s stock valued at $2,147,730,000 after acquiring an additional 297,044 shares in the last quarter. Morgan Stanley lifted its stake in Zoetis by 34.6% in the fourth quarter. Morgan Stanley now owns 10,872,704 shares of the company’s stock valued at $1,593,395,000 after buying an additional 2,796,694 shares during the last quarter. Geode Capital Management LLC lifted its stake in Zoetis by 0.3% in the first quarter. Geode Capital Management LLC now owns 9,739,370 shares of the company’s stock valued at $1,617,464,000 after buying an additional 27,097 shares during the last quarter. Northern Trust Corp lifted its stake in Zoetis by 3.3% in the third quarter. Northern Trust Corp now owns 6,143,258 shares of the company’s stock valued at $1,068,804,000 after buying an additional 196,771 shares during the last quarter. Finally, Norges Bank bought a new stake in Zoetis in the fourth quarter valued at $745,861,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $197.74, for a total transaction of $71,779.62. Following the completion of the transaction, the executive vice president now directly owns 20,417 shares in the company, valued at $4,037,257.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 2,209 shares of company stock worth $408,453 over the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ZTS shares. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Zoetis from $190.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Stifel Nicolaus cut their price objective on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Jefferies Financial Group restated a “buy” rating and set a $230.00 price objective on shares of Zoetis in a research note on Tuesday, December 19th. Finally, StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $221.75.

Zoetis Price Performance

NYSE:ZTS traded up $3.02 during trading hours on Tuesday, reaching $152.79. The company had a trading volume of 1,216,821 shares, compared to its average volume of 2,906,440. The stock has a 50-day moving average of $179.11 and a two-hundred day moving average of $180.74. Zoetis Inc. has a one year low of $148.48 and a one year high of $201.92. The firm has a market capitalization of $69.88 billion, a PE ratio of 30.13, a PEG ratio of 2.29 and a beta of 0.85. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.08). Zoetis had a return on equity of 51.25% and a net margin of 27.43%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the firm posted $1.15 EPS. Zoetis’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts forecast that Zoetis Inc. will post 5.8 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a dividend yield of 1.13%. Zoetis’s dividend payout ratio (DPR) is currently 33.93%.

About Zoetis

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.