SVB Wealth LLC Acquires Shares of 57,752 Zoetis Inc. (NYSE:ZTS)

SVB Wealth LLC bought a new position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 57,752 shares of the company's stock, valued at approximately $9,409,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZTS. Hancock Whitney Corp raised its position in Zoetis by 0.3% in the 3rd quarter. Hancock Whitney Corp now owns 18,569 shares of the company's stock valued at $3,628,000 after buying an additional 61 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in shares of Zoetis by 3.5% in the third quarter. Strategy Asset Managers LLC now owns 1,822 shares of the company's stock valued at $356,000 after purchasing an additional 62 shares during the last quarter. VeraBank N.A. raised its holdings in shares of Zoetis by 4.1% in the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company's stock valued at $254,000 after purchasing an additional 62 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Zoetis by 1.4% in the fourth quarter. Procyon Advisors LLC now owns 4,712 shares of the company's stock worth $768,000 after purchasing an additional 63 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Zoetis by 6.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company's stock worth $170,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.80% of the company's stock.

Zoetis Stock Performance

Shares of NYSE ZTS traded down $0.70 during mid-day trading on Tuesday, reaching $169.83. 2,367,808 shares of the company were exchanged, compared to its average volume of 3,250,706. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $200.33. The stock has a market capitalization of $76.05 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.78 and a beta of 0.90. The company's 50-day simple moving average is $166.42 and its 200-day simple moving average is $177.16. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.32 billion during the quarter, compared to analysts' expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, research 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. Stockholders of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Zoetis's payout ratio is presently 36.56%.

Insider Activity at Zoetis

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the sale, the executive vice president now owns 16,107 shares in the company, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ZTS shares. Barclays lifted their price target on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Piper Sandler upped their target price on Zoetis from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Leerink Partners started coverage on Zoetis in a research note on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price target for the company. Leerink Partnrs upgraded Zoetis to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Morgan Stanley decreased 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. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Zoetis currently 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.