Alteri Wealth LLC Acquires New Position in Zoetis Inc. (NYSE:ZTS)

Alteri Wealth LLC purchased a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,338 shares of the company's stock, valued at approximately $544,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Zoetis by 17.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,377,403 shares of the company's stock valued at $464,497,000 after acquiring an additional 351,372 shares during the period. Tidal Investments LLC grew its position in shares of Zoetis by 3.4% during the 3rd quarter. Tidal Investments LLC now owns 15,210 shares of the company's stock valued at $2,972,000 after purchasing an additional 500 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after purchasing an additional 279,092 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Zoetis by 67.5% in the 4th quarter. Versant Capital Management Inc now owns 1,114 shares of the company's stock worth $182,000 after buying an additional 449 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Zoetis by 38.3% in the fourth quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company's stock worth $336,266,000 after purchasing an additional 572,511 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ZTS. Stifel Nicolaus lowered their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler upped their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Barclays increased their target price on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Morgan Stanley cut their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $214.40.

Zoetis Stock Performance

Shares of NYSE:ZTS traded down $8.24 during midday trading on Tuesday, hitting $149.82. The company had a trading volume of 4,122,056 shares, compared to its average volume of 2,474,559. The company has a market cap of $66.85 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The company has a fifty day moving average of $157.87 and a two-hundred day moving average of $166.69. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. On average, equities research analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. Zoetis's dividend payout ratio (DPR) is presently 36.56%.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,862 shares of company stock worth $312,254. 0.16% of the stock is owned by corporate insiders.

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.