SeaCrest Wealth Management LLC Sells 392 Shares of Zoetis Inc. (NYSE:ZTS)

SeaCrest Wealth Management LLC decreased its holdings in Zoetis Inc. (NYSE:ZTS) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,785 shares of the company’s stock after selling 392 shares during the period. SeaCrest Wealth Management LLC’s holdings in Zoetis were worth $641,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Zoetis by 222.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in Zoetis in the fourth quarter worth about $33,000. Webster Bank N. A. lifted its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 82 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new stake in Zoetis in the third quarter worth about $35,000. Institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $151.17, for a total transaction of $139,529.91. Following the transaction, the executive vice president now directly owns 14,800 shares of the company’s stock, valued at $2,237,316. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Zoetis Stock Performance

Shares of NYSE:ZTS opened at $175.57 on Thursday. The firm has a market cap of $80.11 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86. The firm’s 50 day simple moving average is $169.73 and its 200-day simple moving average is $178.25. Zoetis Inc. has a one year low of $144.80 and a one year high of $201.92. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33.

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

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, July 18th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date 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.