Zoetis Inc. (NYSE:ZTS) Shares Acquired by Portside Wealth Group LLC

Portside Wealth Group LLC grew its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 22.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,079 shares of the company's stock after acquiring an additional 5,013 shares during the quarter. Portside Wealth Group LLC's holdings in Zoetis were worth $4,412,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ZTS. JPMorgan Chase & Co. boosted its holdings in shares of Zoetis by 10.6% in the third quarter. JPMorgan Chase & Co. now owns 2,916,539 shares of the company's stock valued at $569,834,000 after buying an additional 279,092 shares during the period. Brighton Jones LLC increased its stake in shares of Zoetis by 180.4% during the 4th quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after purchasing an additional 2,978 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Zoetis by 4.6% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,633 shares of the company's stock valued at $434,000 after buying an additional 115 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Zoetis by 2.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 9,331 shares of the company's stock valued at $1,520,000 after purchasing an additional 238 shares during the last quarter. Finally, Optas LLC boosted its position in Zoetis by 36.0% during the fourth quarter. Optas LLC now owns 1,398 shares of the company's stock worth $228,000 after purchasing an additional 370 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Stock Performance

Zoetis stock remained flat at $168.59 on Thursday. The company's stock had a trading volume of 2,773,945 shares, compared to its average volume of 2,539,221. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The stock has a market capitalization of $75.06 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The firm has a 50-day moving average of $157.16 and a two-hundred day moving average of $164.46.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.08. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts predict 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is currently 35.91%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZTS. Piper Sandler increased their price target on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. UBS Group dropped their price target on Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Barclays raised their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Wall Street Zen upgraded Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One research 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 a consensus rating of "Buy" and a consensus price target of $212.75.

Insider Activity

In related news, Director Willie M. Reed sold 1,210 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company's stock, valued at approximately $1,868,244.30. This trade represents a 9.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Roxanne Lagano sold 326 shares of the firm'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 transaction, the executive vice president now owns 15,781 shares of the company's stock, valued at $2,682,770. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,188 shares of company stock valued at $367,289 in the last ninety days. Corporate 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.