PNC Financial Services Group Inc. Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

PNC Financial Services Group Inc. reduced its position in Zoetis Inc. (NYSE:ZTS - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,873 shares of the company's stock after selling 16,357 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of Zoetis worth $43,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in Zoetis during the third quarter valued at $31,000. First Personal Financial Services purchased a new stake in shares of Zoetis during the third quarter worth about $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis during the 3rd quarter valued at about $33,000. Dunhill Financial LLC grew its stake 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 in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its stake 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 valued at $28,000 after buying an additional 140 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $170.34 on Monday. The company has a market cap of $76.28 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08. The company has a 50-day simple moving average of $166.72 and a 200-day simple moving average of $176.74.

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Zoetis (NYSE:ZTS - Get Free Report) last released 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 firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, equities analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid 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 yield of 1.17%. Zoetis's dividend payout ratio is currently 36.56%.

Insider Transactions at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares of the company's stock, valued at $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Leerink Partnrs upgraded shares of Zoetis to a "strong-buy" rating in a report on Monday, December 2nd. Piper Sandler upped their price objective on shares of Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. StockNews.com upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a report on Friday. Morgan Stanley decreased their price objective on shares of Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Barclays upped their price objective on shares of Zoetis from $242.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $215.90.

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.

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