Zoetis Inc. (NYSE:ZTS) Holdings Trimmed by Carnegie Investment Counsel

Carnegie Investment Counsel cut its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,420 shares of the company's stock after selling 6,525 shares during the quarter. Carnegie Investment Counsel's holdings in Zoetis were worth $24,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ZTS. Navigoe LLC purchased a new position in Zoetis in the fourth quarter valued at about $30,000. Cornerstone Planning Group LLC raised its stake in shares of Zoetis by 79.3% in the first quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Zoetis by 87.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock worth $42,000 after acquiring an additional 120 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Zoetis during the 4th quarter worth $44,000. Finally, Sound Income Strategies LLC boosted its position in Zoetis by 141.4% during the first quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock worth $46,000 after purchasing an additional 164 shares during the period. Institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ZTS shares. 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. Leerink Partnrs downgraded shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Piper Sandler upped their target price on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Finally, UBS Group cut their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.63.

Zoetis Price Performance

Shares of NYSE:ZTS traded down $0.90 during midday trading on Friday, hitting $151.92. The company's stock had a trading volume of 3,326,080 shares, compared to its average volume of 2,967,721. Zoetis Inc. has a 12-month low of $139.70 and a 12-month high of $200.33. The company has a market cap of $67.64 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. The business's 50 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 earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors 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 yield of 1.32%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is presently 35.91%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total value of $110,840.00. Following the sale, the executive vice president directly owned 15,129 shares in the company, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company's stock.

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.