Heritage Wealth Advisors Has $746,000 Stock Holdings in Zoetis Inc. (NYSE:ZTS)

Key Points

• Heritage Wealth Advisors has reduced its stake in Zoetis Inc. by 27.7%, now holding 4,530 shares worth approximately $746,000.
• Several institutional investors have increased their stakes in Zoetis, with entities like Cornerstone Planning Group and Bfsg LLC boosting their holdings significantly by 79.3% and 614.6%, respectively, during the first quarter.
• Analysts have recently lowered their price targets for Zoetis, with Leerink Partners setting a new target of $155.00, and the stock is currently rated as a "Moderate Buy" with a consensus target price of $204.63.

Heritage Wealth Advisors reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,530 shares of the company's stock after selling 1,739 shares during the period. Heritage Wealth Advisors' holdings in Zoetis were worth $746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Navigoe LLC bought a new stake in shares of Zoetis in the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC boosted its stake in Zoetis by 79.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 199 shares of the company's stock valued at $30,000 after buying an additional 88 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Zoetis by 87.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 257 shares of the company's stock valued at $42,000 after acquiring an additional 120 shares during the period. Sound Income Strategies LLC raised its stake 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 acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in shares of Zoetis by 614.6% during the first quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares during the period. Institutional investors own 92.80% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ZTS shares. Leerink Partners lowered shares of Zoetis from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $180.00 to $155.00 in a report on Thursday, July 17th. UBS Group decreased their price objective 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 cut shares of Zoetis from a "buy" rating to a "hold" rating and cut their target price for the company from $165.00 to $160.00 in a research note on Wednesday, June 18th. Leerink Partnrs downgraded Zoetis from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 17th. Finally, Piper Sandler raised their price target on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.63.

Insider Buying and Selling at Zoetis

In related 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Zoetis Stock Down 2.0%

Shares of ZTS opened at $145.76 on Friday. The business's fifty day moving average price is $158.82 and its two-hundred day moving average price is $160.58. The firm has a market capitalization of $64.89 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 2.47 and a beta of 0.91. Zoetis Inc. has a 52 week low of $139.70 and a 52 week high of $200.33. 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 (NYSE:ZTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 earnings per share (EPS) 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 analyst estimates of $2.20 billion. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 earnings per share. On average, analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, July 18th. Zoetis's payout ratio is 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.

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.