Naviter Wealth LLC Takes Position in Zoetis Inc. (NYSE:ZTS)

Naviter Wealth LLC acquired a new position in Zoetis Inc. (NYSE:ZTS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,038 shares of the company's stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock worth $28,000 after buying an additional 140 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services acquired a new position in Zoetis in the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP acquired a new position in Zoetis in the 3rd quarter valued at about $33,000. Finally, Dunhill Financial LLC raised its stake in Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley cut 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. Piper Sandler boosted their target price on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. UBS Group assumed coverage on shares of Zoetis in a research note on Monday, December 9th. They issued a "neutral" rating and a $196.00 target price for the company. Leerink Partners began coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an "outperform" rating and a $215.00 target price for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. 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 a consensus rating of "Buy" and an average target price of $215.90.

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Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.

Zoetis Trading Up 1.8 %

ZTS traded up $3.09 on Friday, reaching $170.34. 3,296,788 shares of the company's stock were exchanged, compared to its average volume of 3,274,650. The company's 50 day moving average is $166.72 and its 200-day moving average is $176.74. The company has a market cap of $76.28 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a twelve month low of $144.80 and a twelve month 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.

Zoetis (NYSE:ZTS - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.03. The firm 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 predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently announced 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 1.17%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio (DPR) is presently 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.