Azzad Asset Management Inc. ADV Purchases 119 Shares of Zoetis Inc. (NYSE:ZTS)

Azzad Asset Management Inc. ADV raised its stake in Zoetis Inc. (NYSE:ZTS) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,820 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Zoetis were worth $2,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hohimer Wealth Management LLC boosted its stake in Zoetis by 1.2% in the fourth quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock valued at $866,000 after acquiring an additional 52 shares during the last quarter. Forum Financial Management LP boosted its stake in Zoetis by 0.8% in the fourth quarter. Forum Financial Management LP now owns 7,386 shares of the company’s stock valued at $1,458,000 after acquiring an additional 56 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in Zoetis by 3.5% in the fourth quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $324,000 after acquiring an additional 56 shares during the last quarter. Prossimo Advisors LLC boosted its stake in Zoetis by 1.7% in the fourth quarter. Prossimo Advisors LLC now owns 3,498 shares of the company’s stock valued at $690,000 after acquiring an additional 57 shares during the last quarter. Finally, River Street Advisors LLC boosted its stake in Zoetis by 3.4% in the fourth quarter. River Street Advisors LLC now owns 1,757 shares of the company’s stock valued at $347,000 after acquiring an additional 58 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZTS shares. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. The Goldman Sachs Group dropped their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Barclays dropped their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. HSBC dropped their price target on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their price target on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $211.75.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total value of $139,529.91. Following the transaction, the executive vice president now owns 14,800 shares of the company’s stock, valued at approximately $2,237,316. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Zoetis Stock Performance

NYSE ZTS opened at $175.57 on Thursday. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. The stock has a market capitalization of $80.11 billion, a PE ratio of 33.83, a P/E/G ratio of 2.72 and a beta of 0.86. The company’s 50 day simple moving average is $169.73 and its two-hundred day simple moving average is $178.25.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. Zoetis had a net margin of 27.38% and a return on equity of 50.34%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts predict that Zoetis Inc. will post 5.76 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

About Zoetis

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.