Banque Pictet & Cie SA Purchases 24,546 Shares of Zoetis Inc. (NYSE:ZTS)

Banque Pictet & Cie SA lifted its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,615,019 shares of the company's stock after purchasing an additional 24,546 shares during the quarter. Zoetis accounts for about 3.5% of Banque Pictet & Cie SA's portfolio, making the stock its 6th largest position. Banque Pictet & Cie SA owned about 0.59% of Zoetis worth $430,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Zoetis by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock worth $6,739,905,000 after purchasing an additional 120,158 shares during the period. Geode Capital Management LLC increased its stake in Zoetis by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company's stock valued at $1,726,075,000 after purchasing an additional 190,137 shares in the last quarter. Polen Capital Management LLC increased its stake in Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Zoetis by 78.5% in the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Zoetis by 13.3% in the 4th quarter. Northern Trust Corp now owns 6,426,394 shares of the company's stock worth $1,047,052,000 after acquiring an additional 755,893 shares in the last quarter. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Performance

NYSE:ZTS opened at $159.14 on Wednesday. The stock has a market cap of $70.85 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 2.60 and a beta of 0.91. The firm's fifty day simple moving average is $161.27 and its 200 day simple moving average is $161.99. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12.

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

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's dividend payout ratio is currently 35.91%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ZTS. Piper Sandler boosted their price target on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. Finally, UBS Group reduced their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $212.13.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.