Axxcess Wealth Management LLC Trims Stake in Zoetis Inc. (NYSE:ZTS)

Axxcess Wealth Management LLC decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 65.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,369 shares of the company’s stock after selling 6,457 shares during the period. Axxcess Wealth Management LLC’s holdings in Zoetis were worth $584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hohimer Wealth Management LLC grew its stake in shares of Zoetis by 1.2% in the 4th quarter. Hohimer Wealth Management LLC now owns 4,386 shares of the company’s stock worth $866,000 after buying an additional 52 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Zoetis by 4.8% in the 2nd quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock worth $204,000 after buying an additional 54 shares during the last quarter. Angeles Wealth Management LLC grew its stake in shares of Zoetis by 3.5% in the 4th quarter. Angeles Wealth Management LLC now owns 1,640 shares of the company’s stock worth $324,000 after buying an additional 56 shares during the last quarter. Forza Wealth Management LLC grew its stake in shares of Zoetis by 1.8% in the 2nd quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock worth $574,000 after buying an additional 58 shares during the last quarter. Finally, L. Roy Papp & Associates LLP grew its stake in shares of Zoetis by 2.8% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock worth $385,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Stifel Nicolaus upped their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upped their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $220.38.

Zoetis Stock Performance

ZTS stock opened at $192.73 on Friday. The stock has a market capitalization of $87.94 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The stock’s 50 day simple moving average is $184.70 and its 200 day simple moving average is $174.47.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.07. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. As a group, research analysts forecast that Zoetis Inc. will post 5.84 earnings per share for the current fiscal year.

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.