Alerus Financial NA Sells 3,499 Shares of Zoetis Inc. (NYSE:ZTS)

Alerus Financial NA decreased its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,813 shares of the company's stock after selling 3,499 shares during the quarter. Alerus Financial NA's holdings in Zoetis were worth $6,997,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in Zoetis in the third quarter worth about $31,000. First Personal Financial Services bought a new stake in shares of Zoetis during the third quarter worth approximately $33,000. Capital Performance Advisors LLP bought a new stake in shares of Zoetis during the third quarter worth approximately $33,000. Quarry LP boosted its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company's stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company's stock worth $46,000 after acquiring an additional 222 shares during the period. 92.80% of the stock is currently owned by institutional investors.

Zoetis Stock Down 0.8 %

Zoetis stock traded down $1.49 during midday trading on Friday, reaching $175.25. The stock had a trading volume of 1,543,442 shares, compared to its average volume of 2,880,750. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The firm's fifty day simple moving average is $183.83 and its 200-day simple moving average is $180.92. The stock has a market capitalization of $79.07 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 2.69 and a beta of 0.90.

Zoetis (NYSE:ZTS - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The business had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm's revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis's payout ratio is presently 32.33%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BTIG Research lifted their price objective on Zoetis from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Argus upgraded shares of Zoetis to a "strong-buy" rating in a report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $221.44.

Zoetis 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.