State Farm Mutual Automobile Insurance Co. Sells 26,093 Shares of Zoetis Inc. (NYSE:ZTS)

State Farm Mutual Automobile Insurance Co. lowered its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,011,510 shares of the company’s stock after selling 26,093 shares during the period. Zoetis comprises about 2.4% of State Farm Mutual Automobile Insurance Co.’s investment portfolio, making the stock its 14th biggest position. State Farm Mutual Automobile Insurance Co.’s holdings in Zoetis were worth $2,608,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC boosted its position in Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 140 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Zoetis by 5,533.3% in the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 166 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in Zoetis during the 4th quarter worth approximately $44,000. Finally, Asset Planning Inc purchased a new position in Zoetis in the 4th quarter worth approximately $58,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS opened at $163.03 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market cap of $73.00 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. The stock has a fifty day simple moving average of $166.40 and a two-hundred day simple moving average of $174.67. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33.

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

Zoetis Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.23%. Zoetis’s payout ratio is 36.56%.

Analysts Set New Price Targets

ZTS has been the topic of several recent analyst reports. Barclays raised their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. UBS Group began coverage on shares of Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $215.90.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, 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 through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $170.00, for a total value of $55,420.00. Following the completion of the transaction, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at approximately $2,682,770. This represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock valued at $312,254 in the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

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.