Integrated Advisors Network LLC lowered its position in Zoetis Inc. (NYSE:ZTS – Free Report) by 91.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,851 shares of the company’s stock after selling 31,636 shares during the period. Integrated Advisors Network LLC’s holdings in Zoetis were worth $337,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP raised its position in shares of Zoetis by 12,431.2% during the fourth quarter. J. Stern & Co. LLP now owns 24,069,492 shares of the company’s stock worth $3,028,423,000 after purchasing an additional 23,877,416 shares during the period. Norges Bank bought a new stake in Zoetis during the 4th quarter worth approximately $734,425,000. Vanguard Group Inc. increased its stake in Zoetis by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 47,780,974 shares of the company’s stock worth $6,011,802,000 after purchasing an additional 5,474,210 shares in the last quarter. Nordea Investment Management AB raised its holdings in Zoetis by 79.2% during the 4th quarter. Nordea Investment Management AB now owns 4,932,787 shares of the company’s stock worth $622,222,000 after buying an additional 2,179,578 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Zoetis by 269.0% in the fourth quarter. Van ECK Associates Corp now owns 2,387,059 shares of the company’s stock valued at $300,340,000 after buying an additional 1,740,113 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.
Zoetis Stock Up 0.5%
ZTS stock traded up $0.41 during midday trading on Friday, hitting $75.49. The company’s stock had a trading volume of 5,157,373 shares, compared to its average volume of 6,410,874. The company has a debt-to-equity ratio of 2.80, a current ratio of 3.15 and a quick ratio of 1.91. Zoetis Inc. has a twelve month low of $71.47 and a twelve month high of $160.48. The company’s fifty day moving average price is $79.96 and its 200 day moving average price is $107.76. The stock has a market capitalization of $31.65 billion, a P/E ratio of 12.52, a PEG ratio of 1.17 and a beta of 0.75.
Zoetis Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, July 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, July 20th. Zoetis’s dividend payout ratio (DPR) is currently 35.16%.
More Zoetis News
Here are the key news stories impacting Zoetis this week:
- Positive Sentiment: No clearly positive company-specific catalysts were reported in the latest batch of articles.
- Neutral Sentiment: Multiple law firms, including Rosen, Glancy Prongay, Bragar Eagel & Squire, The Gross Law Firm, Kessler Topaz, Schall, Howard G. Smith, and Bernstein Liebhard, are urging investors who bought ZTS shares during the class period to contact them before the July 27 lead plaintiff deadline.
- Negative Sentiment: A class action lawsuit has been filed against Zoetis and certain officers, with allegations of material misstatements and/or omissions tied to product adoption, which may increase legal costs and pressure the stock. Article Title
Insiders Place Their Bets
In other news, Director Paul Bisaro bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $75.88 per share, with a total value of $151,760.00. Following the completion of the purchase, the director owned 27,862 shares of the company’s stock, valued at $2,114,168.56. This represents a 7.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank A. Damelio purchased 6,650 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $75.39 per share, with a total value of $501,343.50. Following the purchase, the director owned 21,458 shares of the company’s stock, valued at approximately $1,617,718.62. The trade was a 44.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 11,650 shares of company stock valued at $886,384 in the last 90 days. 0.22% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on ZTS shares. Weiss Ratings downgraded shares of Zoetis from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, June 12th. UBS Group reduced their target price on shares of Zoetis from $130.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. HSBC dropped their price target on Zoetis from $140.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $115.00 price objective on shares of Zoetis in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Zoetis from $190.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zoetis has a consensus rating of “Hold” and a consensus price target of $123.46.
View Our Latest Research Report on Zoetis
Zoetis Profile
Zoetis Inc (NYSE: ZTS) is a global animal health company that develops, manufactures and markets a broad portfolio of products and services for companion animals and livestock. The company’s offerings include pharmaceuticals, vaccines and biologics, parasiticides and anti-infectives, as well as diagnostic instruments, consumables and laboratory testing services. Zoetis serves the veterinary community, livestock producers and other animal-health customers with products designed to prevent, detect and treat disease and to support animal productivity and welfare.
Zoetis traces its roots to the animal health business of Pfizer and became an independent, publicly traded company following a 2013 separation and initial public offering.
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