Atria Wealth Solutions Inc. Has $2.87 Million Stock Position in Zoetis Inc. (NYSE:ZTS)

Key Points

• Atria Wealth Solutions Inc. has increased its stake in Zoetis Inc. by 23.5%, now owning approximately $2.87 million worth of shares after acquiring additional shares in the first quarter.
• Several institutional investors have shown increased interest in Zoetis, with notable increases in holdings from Portside Wealth Group and Tandem Investment Advisors, reflecting a trend of institutional ownership that totals around 92.80% of the company.
• Zoetis announced a quarterly dividend of $0.50 per share, representing a 1.4% yield, and reported a net margin of 27.83% with 4.2% revenue growth year-over-year in its recent earnings announcement.

Atria Wealth Solutions Inc. raised its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 23.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,427 shares of the company's stock after acquiring an additional 3,318 shares during the period. Atria Wealth Solutions Inc.'s holdings in Zoetis were worth $2,869,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions LLC increased its holdings in Zoetis by 18.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 420 shares of the company's stock valued at $68,000 after acquiring an additional 64 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Zoetis by 1.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,715 shares of the company's stock valued at $612,000 after acquiring an additional 65 shares in the last quarter. Legacy Financial Advisors Inc. increased its holdings in Zoetis by 5.8% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,282 shares of the company's stock valued at $209,000 after acquiring an additional 70 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in Zoetis by 2.3% during the 1st quarter. Quotient Wealth Partners LLC now owns 3,167 shares of the company's stock valued at $521,000 after acquiring an additional 72 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. increased its holdings in Zoetis by 4.4% during the 1st quarter. Broadway Wealth Solutions Inc. now owns 1,746 shares of the company's stock valued at $287,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Insider Activity

In other Zoetis news, EVP Roxanne Lagano sold 652 shares of Zoetis stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president directly owned 15,129 shares of the company's stock, valued at approximately $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ZTS shares. Piper Sandler restated an "overweight" rating and set a $215.00 target price (up from $210.00) on shares of Zoetis in a report on Monday. Leerink Partnrs cut shares of Zoetis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and reduced their price target for the company from $165.00 to $160.00 in a research report on Wednesday, June 18th. UBS Group reduced their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Finally, Leerink Partners cut shares of Zoetis from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $180.00 to $155.00 in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $202.43.

Zoetis Stock Up 1.5%

NYSE:ZTS traded up $2.18 during mid-day trading on Wednesday, reaching $151.95. The stock had a trading volume of 1,095,197 shares, compared to its average volume of 3,104,778. The business's 50 day moving average is $155.89 and its 200 day moving average is $159.50. 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 cap of $67.34 billion, a P/E ratio of 26.16, a PEG ratio of 2.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.76 and a quick ratio of 1.04.

Zoetis (NYSE:ZTS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.62 by $0.14. Zoetis had a return on equity of 56.90% and a net margin of 27.83%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter last year, the company posted $1.56 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Zoetis's dividend payout ratio (DPR) is presently 34.42%.

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.