Zoetis Inc. (NYSE:ZTS) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 33.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,671,742 shares of the company's stock after purchasing an additional 670,459 shares during the quarter. Pictet Asset Management Holding SA owned about 0.60% of Zoetis worth $439,851,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ZTS. Brighton Jones LLC boosted its holdings in Zoetis by 180.4% during the fourth quarter. Brighton Jones LLC now owns 4,629 shares of the company's stock worth $754,000 after buying an additional 2,978 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Zoetis by 5.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 419,530 shares of the company's stock worth $68,354,000 after acquiring an additional 21,470 shares during the period. Proficio Capital Partners LLC raised its position in Zoetis by 61.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,053 shares of the company's stock worth $497,000 after acquiring an additional 1,157 shares during the period. Advisors Asset Management Inc. raised its position in Zoetis by 12.6% during the fourth quarter. Advisors Asset Management Inc. now owns 19,733 shares of the company's stock worth $3,215,000 after acquiring an additional 2,213 shares during the period. Finally, Vinva Investment Management Ltd raised its position in Zoetis by 9.6% during the fourth quarter. Vinva Investment Management Ltd now owns 21,323 shares of the company's stock worth $3,459,000 after acquiring an additional 1,867 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $170.00, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

Zoetis Stock Performance

Shares of Zoetis stock traded down $0.38 during trading on Friday, reaching $149.15. The company's stock had a trading volume of 472,029 shares, compared to its average volume of 2,602,454. The company has a 50-day moving average price of $161.00 and a two-hundred day moving average price of $161.54. The firm has a market cap of $66.40 billion, a PE ratio of 26.82, a P/E/G ratio of 2.51 and a beta of 0.91. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 1.12.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. Zoetis's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. On average, analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Zoetis's payout ratio is currently 35.91%.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZTS shares. Piper Sandler upped their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. UBS Group reduced their target price on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $180.00 to $155.00 in a research report on Thursday. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their target price for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.63.

Zoetis Company 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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