Alliancebernstein L.P. Has $1.79 Billion Stake in Zoetis Inc. $ZTS

Key Points

• Alliancebernstein L.P. reduced its stake in Zoetis Inc. by 8.1%, owning approximately $1.79 billion worth of shares, which represents 0.6% of their total portfolio.
• Institutional investors hold 92.80% of Zoetis stock, with new positions being added by several firms, including 1248 Management LLC and Saudi Central Bank.
• Equity analysts have recently downgraded Zoetis ratings, with a mix of buy and hold recommendations, indicating a current average target price of $202.43 for the stock.

Alliancebernstein L.P. lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,856,391 shares of the company's stock after selling 952,969 shares during the quarter. Zoetis comprises approximately 0.6% of Alliancebernstein L.P.'s holdings, making the stock its 23rd largest position. Alliancebernstein L.P. owned approximately 2.44% of Zoetis worth $1,787,505,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Portside Wealth Group LLC boosted its position in Zoetis by 24.7% during the 1st quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after acquiring an additional 6,672 shares during the period. Tandem Investment Advisors Inc. lifted its holdings in shares of Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock valued at $65,140,000 after buying an additional 198,089 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Zoetis by 31.2% in the first quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after buying an additional 1,760 shares during the period. Horizon Financial Services LLC acquired a new stake in shares of Zoetis in the first quarter valued at $380,000. Finally, Sage Rhino Capital LLC lifted its holdings in shares of Zoetis by 117.6% in the first quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after buying an additional 3,791 shares during the period. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Stock Down 0.0%

ZTS stock traded down $0.05 during mid-day trading on Friday, hitting $153.15. The stock had a trading volume of 1,895,936 shares, compared to its average volume of 2,304,532. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a fifty day moving average of $153.16 and a 200 day moving average of $157.72. The stock has a market capitalization of $67.87 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.46 and a beta of 0.89.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 EPS. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZTS. Piper Sandler upped their price objective on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

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.