Connecticut Wealth Management LLC Has $1.23 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Connecticut Wealth Management LLC trimmed its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,537 shares of the company's stock after selling 3,061 shares during the period. Connecticut Wealth Management LLC's holdings in Zoetis were worth $1,228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City National Bank of Florida MSD purchased a new position in Zoetis in the fourth quarter valued at approximately $246,000. McIlrath & Eck LLC boosted its holdings in Zoetis by 1,800.0% in the fourth quarter. McIlrath & Eck LLC now owns 361 shares of the company's stock worth $59,000 after purchasing an additional 342 shares during the period. Novem Group acquired a new position in Zoetis in the fourth quarter worth $798,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Zoetis by 13.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 86,754 shares of the company's stock worth $14,135,000 after purchasing an additional 10,617 shares during the period. Finally, Focus Partners Advisor Solutions LLC boosted its holdings in Zoetis by 39.0% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,736 shares of the company's stock worth $446,000 after purchasing an additional 768 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

Zoetis stock traded up $0.95 during mid-day trading on Friday, hitting $162.92. 2,732,205 shares of the company were exchanged, compared to its average volume of 2,528,663. The business has a fifty day moving average of $156.48 and a 200 day moving average of $164.84. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33. The company has a market capitalization of $72.53 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, July 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Zoetis's dividend payout ratio is 35.91%.

Insider Activity at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the transaction, the director now owns 11,245 shares in the company, valued at $1,868,244.30. The trade was a 9.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the sale, the executive vice president now owns 15,781 shares in the company, valued at $2,682,770. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on ZTS. Stifel Nicolaus decreased their price objective on shares of Zoetis from $180.00 to $165.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley cut their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. UBS Group lowered their target price on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Barclays lifted their price target on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Finally, Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $212.75.

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.