Envestnet Asset Management Inc. Purchases 40,380 Shares of Zoetis Inc. (NYSE:ZTS)

Envestnet Asset Management Inc. raised its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,171,951 shares of the company's stock after purchasing an additional 40,380 shares during the period. Envestnet Asset Management Inc. owned 0.49% of Zoetis worth $357,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in shares of Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after acquiring an additional 166 shares in the last quarter. Navigoe LLC bought a new position in shares of Zoetis in the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Zoetis in the 4th quarter worth about $44,000. Sound Income Strategies LLC grew its position in shares of Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares during the period. Finally, Bfsg LLC increased its position in Zoetis by 614.6% in the first quarter. Bfsg LLC now owns 293 shares of the company's stock worth $48,000 after buying an additional 252 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was 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 of the company's stock, valued at $2,571,930. This trade 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 this link. Insiders own 0.18% of the company's stock.

Zoetis Price Performance

NYSE:ZTS traded up $0.50 during mid-day trading on Wednesday, reaching $158.30. The stock had a trading volume of 3,196,368 shares, compared to its average volume of 2,584,167. The stock has a market capitalization of $70.48 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.62 and a beta of 0.91. The firm has a 50 day moving average price of $161.27 and a two-hundred day moving average price of $161.99. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.20 billion. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. As a group, analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

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

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.