Appleton Partners Inc. MA Lowers Stake in Zoetis Inc. (NYSE:ZTS)

Appleton Partners Inc. MA lessened its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,098 shares of the company's stock after selling 1,659 shares during the period. Zoetis accounts for approximately 1.1% of Appleton Partners Inc. MA's investment portfolio, making the stock its 28th biggest position. Appleton Partners Inc. MA's holdings in Zoetis were worth $13,682,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. raised its position in shares of Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Navigoe LLC acquired a new position in shares of Zoetis during the 4th quarter worth about $30,000. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis during the 4th quarter valued at about $44,000. Sound Income Strategies LLC grew its stake in Zoetis by 141.4% during the 1st quarter. Sound Income Strategies LLC now owns 280 shares of the company's stock valued at $46,000 after acquiring an additional 164 shares in the last quarter. Finally, Bfsg LLC grew its stake in Zoetis by 614.6% during the 1st quarter. Bfsg LLC now owns 293 shares of the company's stock valued at $48,000 after acquiring an additional 252 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Trading Up 1.4%

Shares of NYSE ZTS traded up $2.20 during midday trading on Friday, reaching $157.26. 3,296,106 shares of the stock were exchanged, compared to its average volume of 2,554,322. The company has a 50 day simple moving average of $159.58 and a 200 day simple moving average of $163.31. The stock has a market capitalization of $70.01 billion, a P/E ratio of 28.23, a PEG ratio of 2.61 and a beta of 0.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.04 and a current ratio of 1.74. Zoetis Inc. has a twelve month low of $139.70 and a twelve month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last announced 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 business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.20 billion. Zoetis had a net margin of 27.12% and a return on equity of 55.48%. The business's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. As a group, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current 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 issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. Zoetis's dividend payout ratio is currently 35.91%.

Analyst Upgrades and Downgrades

ZTS has been the subject of several research reports. Piper Sandler upped their price objective on shares of Zoetis from $205.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $160.00 in a research note on Wednesday. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, UBS Group dropped their price objective on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $212.13.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 652 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

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.