Pictet Asset Management Holding SA Increases Position in Zoetis Inc. (NYSE:ZTS)

Pictet Asset Management Holding SA grew its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 29.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,001,283 shares of the company's stock after purchasing an additional 455,191 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.44% of Zoetis worth $326,069,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its stake in Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company's stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Zoetis by 482.8% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company's stock valued at $28,000 after purchasing an additional 140 shares during the period. Rakuten Securities Inc. boosted its holdings in shares of Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company's stock valued at $28,000 after purchasing an additional 166 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in Zoetis during the 4th quarter worth $44,000. Finally, Quarry LP raised its position in Zoetis by 45.9% during the 3rd quarter. Quarry LP now owns 305 shares of the company's stock valued at $60,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Piper Sandler boosted their price target on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. UBS Group began coverage on shares of Zoetis in a research note on Monday, December 9th. They set a "neutral" rating and a $196.00 price objective on the stock. StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Leerink Partners assumed coverage on Zoetis in a report on Monday, December 2nd. They set an "outperform" rating and a $215.00 target price for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $215.90.

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Zoetis Stock Performance

ZTS stock traded down $0.99 during midday trading on Tuesday, reaching $163.66. The stock had a trading volume of 643,941 shares, compared to its average volume of 2,975,382. 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 fifty day simple moving average of $166.37 and a two-hundred day simple moving average of $174.26. The stock has a market cap of $73.29 billion, a PE ratio of 29.92, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.03. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, equities research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current year.

Zoetis Announces Dividend

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

Insiders Place Their Bets

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the sale, the director now owns 11,245 shares in the company, valued at approximately $1,868,244.30. This represents a 9.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares of the company's stock, valued at approximately $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,862 shares of company stock valued at $312,254. Company insiders own 0.16% of the company's stock.

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.