First Commonwealth Financial Corp PA Increases Stock Holdings in Zoetis Inc. (NYSE:ZTS)

First Commonwealth Financial Corp PA boosted its stake in shares of Zoetis Inc. (NYSE:ZTS) by 23.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,101 shares of the company’s stock after buying an additional 1,158 shares during the period. First Commonwealth Financial Corp PA’s holdings in Zoetis were worth $994,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Rakuten Securities Inc. raised its position in Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after purchasing an additional 166 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Zoetis in the 4th quarter worth about $44,000. Asset Planning Inc bought a new stake in Zoetis in the fourth quarter worth about $58,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Zoetis during the fourth quarter valued at approximately $59,000. 92.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zoetis

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock worth $312,254 over the last quarter. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Piper Sandler increased their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus cut their price target on shares of Zoetis from $180.00 to $165.00 and set a “buy” rating on the stock in a report on Monday. Finally, StockNews.com upgraded shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Zoetis has an average rating of “Buy” and a consensus target price of $214.40.

Zoetis Trading Down 1.6 %

NYSE ZTS opened at $146.78 on Thursday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The company has a market capitalization of $65.49 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92. The company’s 50-day simple moving average is $161.02 and its two-hundred day simple moving average is $170.60.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Equities analysts forecast that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Monday, April 21st. Zoetis’s payout ratio is currently 36.56%.

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.