Zoetis Inc. (NYSE:ZTS) Stake Cut by Alerus Financial NA

Alerus Financial NA lowered its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 30.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 25,037 shares of the company's stock after selling 10,776 shares during the quarter. Alerus Financial NA's holdings in Zoetis were worth $4,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. denkapparat Operations GmbH purchased a new position in shares of Zoetis during the 4th quarter valued at about $373,000. Orion Portfolio Solutions LLC raised its position in Zoetis by 9.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 64,932 shares of the company's stock valued at $10,579,000 after acquiring an additional 5,447 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Zoetis by 29.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,001,283 shares of the company's stock worth $326,069,000 after purchasing an additional 455,191 shares in the last quarter. Broadway Wealth Solutions Inc. acquired a new stake in shares of Zoetis during the 4th quarter worth approximately $273,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Zoetis during the 4th quarter valued at approximately $4,047,000. 92.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the stock in a transaction dated Tuesday, March 11th. The stock was 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 owns 11,245 shares in the company, valued at approximately $1,868,244.30. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roxanne Lagano sold 326 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the completion of the transaction, the executive vice president now owns 15,781 shares in the company, valued at $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 worth $312,254 in the last three months. 0.16% of the stock is currently owned by company insiders.

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Zoetis Stock Performance

Shares of Zoetis stock traded down $1.02 during trading hours on Tuesday, hitting $163.63. 643,941 shares of the company were exchanged, compared to its average volume of 2,589,647. The business has a 50-day moving average of $166.37 and a 200-day moving average of $174.26. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33. 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 stock has a market capitalization of $73.27 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 2.78 and a beta of 0.94.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.30 billion. As a group, analysts expect that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis's payout ratio is currently 36.56%.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Leerink Partners initiated coverage on shares of Zoetis in a report on Monday, December 2nd. They set an "outperform" rating and a $215.00 price objective on the stock. UBS Group started coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a "neutral" rating and a $196.00 price target on the stock. 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. Finally, StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Zoetis presently has a consensus rating of "Buy" and a consensus target price of $215.90.

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.