Envestnet Asset Management Inc. Trims Holdings in Zoetis Inc. (NYSE:ZTS)

Envestnet Asset Management Inc. lowered its stake in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,131,571 shares of the company's stock after selling 133,103 shares during the period. Envestnet Asset Management Inc. owned approximately 0.47% of Zoetis worth $347,297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC lifted its holdings in Zoetis by 482.8% during 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. Rakuten Securities Inc. boosted its holdings in 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. 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 worth $33,000 after purchasing an additional 75 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Zoetis during the 4th quarter worth $44,000. Finally, Asset Planning Inc purchased a new stake in Zoetis during the 4th quarter worth about $58,000. Institutional investors and hedge funds own 92.80% of the company's stock.

Analysts Set New Price Targets

ZTS has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price objective on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Zoetis from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Barclays raised their price objective on shares of Zoetis from $242.00 to $244.00 and gave the company an "overweight" rating in a report on Friday, February 14th. StockNews.com upgraded shares of Zoetis from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. One 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 stock. According to data from MarketBeat, Zoetis has a consensus rating of "Buy" and an average price target of $215.90.

Zoetis Stock Performance

NYSE ZTS traded up $1.42 on Friday, reaching $148.42. The stock had a trading volume of 883,523 shares, compared to its average volume of 2,615,432. The stock has a market cap of $66.46 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92. The business's 50-day moving average price is $162.96 and its 200 day moving average price is $171.68. 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 Inc. has a 12-month low of $139.70 and a 12-month high of $200.33.

Zoetis (NYSE:ZTS - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.40 EPS for the quarter, beating the consensus estimate 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 return on equity of 53.82% and a net margin of 26.86%. As a group, equities analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, April 21st. Zoetis's payout ratio is 36.56%.

Insider Transactions at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the completion of the transaction, the director now owns 11,245 shares of the company's stock, valued at $1,868,244.30. The trade was a 9.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 326 shares of Zoetis stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now owns 16,107 shares of the company's stock, valued at approximately $2,757,196.26. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock worth $312,254 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

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.