Power Wealth Management LLC Buys New Stake in Zoetis Inc. (NYSE:ZTS)

Power Wealth Management LLC purchased a new position in shares of Zoetis Inc. (NYSE:ZTS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,145 shares of the company’s stock, valued at approximately $818,000.

A number of other institutional investors also recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC grew its stake in Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Independence Bank of Kentucky grew its position in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the period. Ramirez Asset Management Inc. acquired a new position in Zoetis in the third quarter valued at $35,000. First Financial Corp IN lifted its position in Zoetis by 57.2% during the fourth quarter. First Financial Corp IN now owns 217 shares of the company’s stock worth $43,000 after buying an additional 79 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its stake in Zoetis by 42.1% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 260 shares of the company’s stock worth $45,000 after buying an additional 77 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. The Goldman Sachs Group upped their price objective on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Stifel Nicolaus reduced their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Barclays dropped their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 23rd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Zoetis currently has an average rating of “Buy” and a consensus price target of $216.13.

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $173.33, for a total value of $159,983.59. Following the completion of the transaction, the executive vice president now owns 15,723 shares of the company’s stock, valued at $2,725,267.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,209 shares of company stock worth $371,293 in the last quarter. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Down 0.1 %

NYSE ZTS traded down $0.16 during trading hours on Friday, hitting $167.07. The company had a trading volume of 3,007,125 shares, compared to its average volume of 4,607,073. The firm’s 50 day moving average is $168.88 and its 200 day moving average is $178.84. The company has a market capitalization of $76.41 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.61 and a beta of 0.86. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.36 and a quick ratio of 2.00.

Zoetis (NYSE:ZTS) last announced its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. Zoetis had a return on equity of 50.74% and a net margin of 27.38%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the business posted $1.31 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts anticipate that Zoetis Inc. will post 5.77 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, April 19th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio (DPR) is 33.33%.

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.