Connecticut Wealth Management LLC Purchases 2,815 Shares of Zoetis Inc. (NYSE:ZTS)

Connecticut Wealth Management LLC lifted its position in shares of Zoetis Inc. (NYSE:ZTS) by 42.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,462 shares of the company’s stock after acquiring an additional 2,815 shares during the period. Connecticut Wealth Management LLC’s holdings in Zoetis were worth $1,868,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ZTS. Blue Bell Private Wealth Management LLC increased its position in Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after acquiring an additional 89 shares during the period. Independence Bank of Kentucky raised its position in shares of Zoetis by 371.4% in the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock valued at $33,000 after buying an additional 130 shares in the last quarter. Ramirez Asset Management Inc. bought a new stake in shares of Zoetis in the third quarter valued at approximately $35,000. First Financial Corp IN grew its position in Zoetis by 57.2% during the fourth quarter. First Financial Corp IN now owns 217 shares of the company’s stock worth $43,000 after buying an additional 79 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in Zoetis by 42.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 260 shares of the company’s stock worth $45,000 after acquiring an additional 77 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 0.1 %

ZTS stock traded down $0.16 during midday trading on Friday, hitting $167.07. The stock had a trading volume of 3,007,125 shares, compared to its average volume of 4,607,073. The company has a current ratio of 3.36, a quick ratio of 2.00 and a debt-to-equity ratio of 1.32. The firm has a market cap of $76.41 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. The business has a fifty day moving average price of $168.88 and a two-hundred day moving average price of $178.84. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.74% and a net margin of 27.38%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. On average, sell-side analysts predict that Zoetis Inc. will post 5.78 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a $0.432 dividend. The ex-dividend date is Thursday, April 18th. This represents a $1.73 annualized dividend and a yield of 1.03%. Zoetis’s payout ratio is currently 33.33%.

Insider Buying and Selling at Zoetis

In related news, EVP Roxanne Lagano sold 363 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $197.74, for a total value of $71,779.62. Following the transaction, the executive vice president now directly owns 20,417 shares in the company, valued at approximately $4,037,257.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 2,209 shares of company stock valued at $371,293. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

ZTS has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Barclays decreased their price target on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Stifel Nicolaus dropped 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. StockNews.com lowered shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group boosted their price target on Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $216.13.

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.