Portside Wealth Group LLC Acquires 6,672 Shares of Zoetis Inc. (NYSE:ZTS)

Portside Wealth Group LLC grew its holdings in Zoetis Inc. (NYSE:ZTS - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,709 shares of the company's stock after purchasing an additional 6,672 shares during the quarter. Zoetis makes up approximately 0.9% of Portside Wealth Group LLC's holdings, making the stock its 22nd biggest holding. Portside Wealth Group LLC's holdings in Zoetis were worth $5,550,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Baldwin Wealth Partners LLC MA boosted its stake in shares of Zoetis by 4.2% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 78,107 shares of the company's stock valued at $12,860,000 after purchasing an additional 3,146 shares during the last quarter. Courier Capital LLC boosted its stake in Zoetis by 29.6% during the 1st quarter. Courier Capital LLC now owns 1,972 shares of the company's stock worth $325,000 after acquiring an additional 450 shares during the last quarter. Werlinich Asset Management LLC boosted its stake in Zoetis by 38.4% during the 1st quarter. Werlinich Asset Management LLC now owns 3,043 shares of the company's stock worth $501,000 after acquiring an additional 845 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Zoetis by 16.9% during the 1st quarter. Capital Investment Advisors LLC now owns 13,303 shares of the company's stock worth $2,190,000 after acquiring an additional 1,919 shares during the last quarter. Finally, PFW Advisors LLC boosted its stake in Zoetis by 3.9% during the 1st quarter. PFW Advisors LLC now owns 11,246 shares of the company's stock worth $1,852,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 92.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Zoetis from $205.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. UBS Group reduced 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. Morgan Stanley reduced their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Barclays increased their price objective 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. Finally, Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $212.75.

Zoetis Trading Up 1.4%

Zoetis stock traded up $2.31 during mid-day trading on Thursday, hitting $168.64. 2,334,091 shares of the stock were exchanged, compared to its average volume of 2,546,690. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09. Zoetis Inc. has a 12 month low of $139.70 and a 12 month high of $200.33. The firm's fifty day simple moving average is $157.87 and its two-hundred day simple moving average is $164.16. The stock has a market capitalization of $75.08 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Zoetis's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. Analysts forecast that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Dividend Announcement

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. The ex-dividend date is Friday, July 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Zoetis's dividend payout ratio is currently 35.91%.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction 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 completion of the sale, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

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.