Zoetis Inc. (NYSE:ZTS) Position Reduced by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 76.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756 shares of the company’s stock after selling 2,473 shares during the period. Valley Wealth Managers Inc.’s holdings in Zoetis were worth $123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC raised its position in shares of Zoetis by 13,726.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock valued at $950,524,000 after acquiring an additional 4,829,815 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Zoetis by 41,235.7% during the third quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after purchasing an additional 937,700 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Zoetis by 296.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock worth $144,917,000 after buying an additional 665,331 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Zoetis by 38.3% in the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock valued at $336,266,000 after buying an additional 572,511 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of Zoetis during the 3rd quarter valued at about $110,809,000. Institutional investors own 92.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares in the company, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on ZTS shares. Piper Sandler decreased their target price on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus reduced their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, UBS Group initiated coverage on shares of Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $214.90.

Zoetis Stock Down 0.7 %

Zoetis stock opened at $156.43 on Wednesday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53. The stock has a market cap of $70.05 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.71 and a beta of 0.90. The company’s 50-day moving average price is $167.70 and its two-hundred day moving average price is $178.44. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. On average, analysts expect that Zoetis Inc. will post 6.06 EPS for the current fiscal year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

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.