NewEdge Wealth LLC Has $5.75 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

NewEdge Wealth LLC cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 18.8% during the fourth quarter, Holdings Channel reports. The firm owned 35,289 shares of the company’s stock after selling 8,180 shares during the quarter. NewEdge Wealth LLC’s holdings in Zoetis were worth $5,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Callahan Advisors LLC lifted its stake in Zoetis by 90.4% in the 4th quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock worth $2,135,000 after acquiring an additional 6,221 shares in the last quarter. Pensionfund Sabic lifted its stake in Zoetis by 55.6% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after acquiring an additional 4,000 shares in the last quarter. PFW Advisors LLC purchased a new stake in Zoetis in the 4th quarter worth about $1,764,000. CIBC Asset Management Inc lifted its stake in Zoetis by 24.1% in the 4th quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock worth $38,617,000 after acquiring an additional 46,050 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its stake in Zoetis by 2,050.0% in the 4th quarter. Alberta Investment Management Corp now owns 30,100 shares of the company’s stock worth $4,904,000 after acquiring an additional 28,700 shares in the last quarter. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZTS has been the subject of several research analyst reports. Barclays increased their price objective on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group began coverage on Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price on the stock. Stifel Nicolaus dropped their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Zoetis has an average rating of “Buy” and a consensus price target of $215.90.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $164.95 on Friday. 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 firm has a market cap of $73.86 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 2.78 and a beta of 0.90. The business’s 50-day simple moving average is $166.25 and its 200-day simple moving average is $177.49. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53.

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

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio is 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.