Silvercrest Asset Management Group LLC Cuts Stock Position in Zoetis Inc. (NYSE:ZTS)

Silvercrest Asset Management Group LLC trimmed its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,600 shares of the company's stock after selling 6,800 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in Zoetis were worth $3,519,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ZTS. Atlantic Edge Private Wealth Management LLC grew its holdings in Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 140 shares during the period. Rakuten Securities Inc. grew its holdings in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after acquiring an additional 166 shares during the period. Navigoe LLC acquired a new stake in Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Zoetis during the fourth quarter worth about $44,000. Finally, Asset Planning Inc acquired a new stake in Zoetis during the fourth quarter worth about $58,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares of the company's stock, valued at approximately $2,682,770. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Willie M. Reed sold 1,210 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the transaction, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Zoetis Price Performance

Shares of NYSE:ZTS traded up $0.95 during trading on Friday, reaching $162.92. The stock had a trading volume of 2,732,205 shares, compared to its average volume of 2,528,663. 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 business has a fifty day moving average price of $156.48 and a 200-day moving average price of $164.77. The stock has a market cap of $72.53 billion, a PE ratio of 29.78, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1-year low of $139.70 and a 1-year high of $200.33.

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, topping analysts' consensus estimates of $1.40 by $0.08. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. On average, equities analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio is presently 35.91%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus dropped their target price on Zoetis from $180.00 to $165.00 and set a "buy" rating on the stock in a report on Monday, April 14th. UBS Group dropped 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. Wall Street Zen raised Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. Piper Sandler raised their price objective on Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Morgan Stanley dropped their price objective on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis presently has a consensus rating of "Buy" and a consensus 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.