State of Alaska Department of Revenue Sells 9,090 Shares of Zoetis Inc. (NYSE:ZTS)

State of Alaska Department of Revenue reduced its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 10.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,876 shares of the company’s stock after selling 9,090 shares during the quarter. State of Alaska Department of Revenue’s holdings in Zoetis were worth $13,346,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hohimer Wealth Management LLC lifted its position in shares of Zoetis by 1.2% during the 4th 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 period. Forum Financial Management LP lifted its position in shares of Zoetis by 0.8% during the 4th 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 period. Angeles Wealth Management LLC lifted its position in shares of Zoetis by 3.5% during the 4th 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 period. Prossimo Advisors LLC lifted its position in shares of Zoetis by 1.7% during the 4th 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 period. Finally, River Street Advisors LLC lifted its position in shares of Zoetis by 3.4% during the 4th 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 period. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 923 shares of Zoetis 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 directly owns 14,800 shares of the company’s stock, valued at $2,237,316. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Stifel Nicolaus decreased their price target 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. HSBC decreased their price target 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. Barclays decreased their price target 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. Finally, The Goldman Sachs Group decreased their price target 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. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $211.75.

Zoetis Price Performance

ZTS stock opened at $175.57 on Thursday. The firm has a 50 day moving average of $169.73 and a 200-day moving average of $178.25. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The firm has a market capitalization of $80.11 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86.

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

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, July 18th. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

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.