Zoetis Inc. (NYSE:ZTS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Zoetis Inc. (NYSE:ZTS) by 10.3% in the first quarter, Holdings Channel reports. The fund owned 78,876 shares of the company’s stock after selling 9,090 shares during the period. State of Alaska Department of Revenue’s holdings in Zoetis were worth $13,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC increased its stake in 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 purchasing an additional 89 shares in the last quarter. Independence Bank of Kentucky grew its position in Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the period. Private Wealth Management Group LLC purchased a new stake in Zoetis during the fourth quarter valued at about $33,000. Webster Bank N. A. grew its position in Zoetis by 89.1% during the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of Zoetis in the third quarter worth about $35,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Stock Performance

Shares of ZTS stock opened at $175.57 on Thursday. 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 price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86. The business has a 50 day simple moving average of $169.73 and a 200 day simple moving average of $178.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

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, topping analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. On average, equities research analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current year.

Zoetis Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is currently 33.33%.

Insider Buying and Selling at Zoetis

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

Wall Street Analysts Forecast Growth

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

Zoetis Company 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.