SVB Wealth LLC Has $5.14 Million Stock Holdings in Zoetis Inc. $ZTS

Key Points

• SVB Wealth LLC reduced its stake in Zoetis Inc. by 46%, now holding 31,206 shares valued at approximately $5.14 million.
• Zoetis reported a quarterly earnings per share of $1.76, exceeding analysts' estimates, with a revenue of $2.46 billion, a 4.2% increase year-over-year.
• Several hedge funds adjusted their positions in Zoetis, with Portside Wealth Group increasing their holdings by 24.7% and Sage Rhino Capital boosting theirs by 117.6% during the first quarter.

SVB Wealth LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,206 shares of the company's stock after selling 26,546 shares during the quarter. SVB Wealth LLC's holdings in Zoetis were worth $5,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Portside Wealth Group LLC increased its holdings in Zoetis by 24.7% in the first quarter. Portside Wealth Group LLC now owns 33,709 shares of the company's stock worth $5,550,000 after purchasing an additional 6,672 shares in the last quarter. Tandem Investment Advisors Inc. boosted its position in Zoetis by 100.3% in the first quarter. Tandem Investment Advisors Inc. now owns 395,626 shares of the company's stock worth $65,140,000 after purchasing an additional 198,089 shares during the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Zoetis by 31.2% during the 1st quarter. Flagship Harbor Advisors LLC now owns 7,394 shares of the company's stock valued at $1,217,000 after buying an additional 1,760 shares during the last quarter. Horizon Financial Services LLC purchased a new position in shares of Zoetis during the 1st quarter valued at $380,000. Finally, Sage Rhino Capital LLC lifted its position in shares of Zoetis by 117.6% during the 1st quarter. Sage Rhino Capital LLC now owns 7,014 shares of the company's stock valued at $1,155,000 after buying an additional 3,791 shares during the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

NYSE:ZTS opened at $156.3180 on Friday. The firm has a market capitalization of $69.28 billion, a PE ratio of 26.91, a P/E/G ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.76. The stock has a 50-day simple moving average of $153.84 and a two-hundred day simple moving average of $158.64. Zoetis Inc. has a 52-week low of $139.70 and a 52-week high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.41 billion. Zoetis had a return on equity of 56.90% and a net margin of 27.83%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.56 earnings per share. Zoetis has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ZTS has been the topic of a number of research reports. Piper Sandler raised their price objective on Zoetis from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, August 11th. Stifel Nicolaus lowered Zoetis from a "buy" rating to a "hold" rating and cut their price objective for the stock from $165.00 to $160.00 in a research report on Wednesday, June 18th. UBS Group cut their price objective on Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Leerink Partnrs lowered Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Finally, Leerink Partners lowered Zoetis from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the business'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 in the company, valued at approximately $2,571,930. The trade was a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.

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