Wealth Advisors of Tampa Bay LLC Makes New $1.59 Million Investment in Zoetis Inc. (NYSE:ZTS)

Wealth Advisors of Tampa Bay LLC purchased a new stake in Zoetis Inc. (NYSE:ZTS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,743 shares of the company's stock, valued at approximately $1,587,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Zoetis by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 41,366,877 shares of the company's stock worth $6,739,905,000 after purchasing an additional 120,158 shares during the period. State Street Corp boosted its stake in Zoetis by 0.5% in the 3rd quarter. State Street Corp now owns 19,779,344 shares of the company's stock worth $3,864,488,000 after buying an additional 95,856 shares during the last quarter. Geode Capital Management LLC grew its holdings in Zoetis by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 10,617,897 shares of the company's stock valued at $1,726,075,000 after buying an additional 190,137 shares during the period. Polen Capital Management LLC increased its stake in shares of Zoetis by 17.5% during the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company's stock valued at $1,219,237,000 after acquiring an additional 1,116,541 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Zoetis by 78.5% in the fourth quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company's stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

ZTS has been the topic of several research reports. Morgan Stanley cut their target price on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Piper Sandler lifted their price objective on Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. StockNews.com raised shares of Zoetis from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. 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 report on Friday, February 14th. Finally, Stifel Nicolaus reduced their target price on shares of Zoetis from $210.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $215.90.

Insider Buying and Selling

In related news, Director Willie M. Reed sold 1,210 shares of the 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 completion of the transaction, the director now directly owns 11,245 shares of the company's stock, valued at $1,868,244.30. This represents a 9.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total value of $55,420.00. Following the transaction, the executive vice president now directly owns 15,781 shares in the company, valued at $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. Insiders have sold a total of 1,862 shares of company stock valued at $312,254 in the last quarter. Company insiders own 0.16% of the company's stock.

Zoetis Stock Performance

Shares of ZTS traded up $5.14 during mid-day trading on Wednesday, hitting $149.55. The stock had a trading volume of 1,728,987 shares, compared to its average volume of 2,602,607. The company's fifty day simple moving average is $164.18 and its two-hundred day simple moving average is $172.41. Zoetis Inc. has a fifty-two week low of $137.65 and a fifty-two week high of $200.33. The company has a market cap of $66.97 billion, a PE ratio of 27.29, a PEG ratio of 2.78 and a beta of 0.92. 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 posted its quarterly 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. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Monday, April 21st. Zoetis's dividend payout ratio (DPR) is 36.56%.

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.