Atria Investments Inc Reduces Holdings in Zoetis Inc. (NYSE:ZTS)

Atria Investments Inc lowered its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,984 shares of the company's stock after selling 2,825 shares during the period. Atria Investments Inc's holdings in Zoetis were worth $15,310,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZTS. Davis Rea LTD. purchased a new stake in shares of Zoetis in the 1st quarter worth about $3,453,000. Journey Strategic Wealth LLC lifted its position in shares of Zoetis by 16.9% in the 1st quarter. Journey Strategic Wealth LLC now owns 2,228 shares of the company's stock worth $367,000 after purchasing an additional 322 shares during the period. Kovack Advisors Inc. purchased a new stake in shares of Zoetis in the 1st quarter worth about $227,000. SFE Investment Counsel lifted its position in shares of Zoetis by 25.1% in the 1st quarter. SFE Investment Counsel now owns 31,975 shares of the company's stock worth $5,265,000 after purchasing an additional 6,419 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in shares of Zoetis by 12.9% in the 1st quarter. Pinnacle Associates Ltd. now owns 21,435 shares of the company's stock worth $3,529,000 after purchasing an additional 2,446 shares during the period. Hedge funds and other institutional investors own 92.80% of the company's stock.

Zoetis Stock Down 0.6%

NYSE:ZTS traded down $0.90 on Friday, reaching $151.92. 3,326,080 shares of the stock traded hands, compared to its average volume of 2,967,721. The company has a market capitalization of $67.64 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.53 and a beta of 0.91. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The company's fifty day simple moving average is $159.91 and its 200 day simple moving average is $161.01.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. Equities analysts predict that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, July 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is presently 35.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ZTS shares. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their target price for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. UBS Group decreased their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Piper Sandler increased their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Leerink Partnrs lowered shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 17th. Finally, Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $180.00 to $155.00 in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zoetis currently has a consensus rating of "Moderate Buy" and an average target price of $204.63.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction of $110,840.00. Following the sale, the executive vice president owned 15,129 shares of the company's stock, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by 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.