Zoetis Inc. (NYSE:ZTS) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its stake in Zoetis Inc. (NYSE:ZTS - Free Report) by 30.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,821 shares of the company's stock after selling 8,681 shares during the period. First Horizon Advisors Inc.'s holdings in Zoetis were worth $3,264,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ZTS. Norges Bank acquired a new stake in shares of Zoetis in the 4th quarter valued at about $824,321,000. Wellington Management Group LLP increased its holdings in Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock valued at $1,133,755,000 after buying an additional 3,059,255 shares during the last quarter. Sarasin & Partners LLP acquired a new stake in Zoetis during the first quarter valued at approximately $339,111,000. GAMMA Investing LLC lifted its holdings in Zoetis by 14,731.3% during the 1st quarter. GAMMA Investing LLC now owns 1,759,285 shares of the company's stock worth $289,666,000 after buying an additional 1,747,423 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Zoetis in the 4th quarter worth approximately $196,651,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 652 shares of the company's stock in a transaction dated 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 owned 15,129 shares of the company's stock, valued at $2,571,930. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday, March 7th. UBS Group decreased their price target on shares of Zoetis from $189.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Piper Sandler increased 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. Finally, Stifel Nicolaus cut shares of Zoetis from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $160.00 in a report on Wednesday, June 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $212.13.

Zoetis Trading Up 0.1%

Shares of NYSE:ZTS opened at $159.19 on Friday. Zoetis Inc. has a fifty-two week low of $139.70 and a fifty-two week high of $200.33. The company has a quick ratio of 1.04, a current ratio of 1.74 and a debt-to-equity ratio of 1.12. The company has a market cap of $70.87 billion, a PE ratio of 28.58, a P/E/G ratio of 2.64 and a beta of 0.91. The company's 50-day moving average price is $161.05 and its 200 day moving average price is $162.20.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data 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. Zoetis had a return on equity of 55.48% and a net margin of 27.12%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.20 billion. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, July 18th. Zoetis's dividend payout ratio (DPR) is 35.91%.

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.

Want to see what other hedge funds are holding ZTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zoetis Inc. (NYSE:ZTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.