Oak Harvest Investment Services Sells 2,203 Shares of Zoetis Inc. (NYSE:ZTS)

Oak Harvest Investment Services reduced its position in shares of Zoetis Inc. (NYSE:ZTS - Free Report) by 18.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,482 shares of the company's stock after selling 2,203 shares during the quarter. Oak Harvest Investment Services' holdings in Zoetis were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZTS. Algert Global LLC raised its holdings in Zoetis by 29.5% during the 2nd quarter. Algert Global LLC now owns 1,924 shares of the company's stock worth $334,000 after purchasing an additional 438 shares during the last quarter. Quarry LP grew its position in shares of Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company's stock worth $36,000 after buying an additional 153 shares during the period. Truist Financial Corp grew its position in shares of Zoetis by 1.5% during the 2nd quarter. Truist Financial Corp now owns 169,202 shares of the company's stock worth $29,333,000 after buying an additional 2,557 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Zoetis during the 2nd quarter worth about $19,525,000. Finally, Heritage Wealth Management Inc. acquired a new position in shares of Zoetis during the 2nd quarter worth about $624,000. 92.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZTS. Morgan Stanley decreased their target price on Zoetis from $248.00 to $243.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus decreased their target price on Zoetis from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. UBS Group began coverage on Zoetis in a research report on Monday, December 9th. They set a "neutral" rating and a $196.00 target price for the company. Leerink Partners began coverage on Zoetis in a research report on Monday, December 2nd. They issued an "outperform" rating and a $215.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Zoetis from $225.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $215.00.

Zoetis Stock Up 0.0 %

NYSE ZTS traded up $0.01 during trading on Tuesday, hitting $171.95. The stock had a trading volume of 1,601,511 shares, compared to its average volume of 2,632,637. The company has a market capitalization of $77.58 billion, a PE ratio of 32.30, a P/E/G ratio of 2.72 and a beta of 0.90. The company's 50-day moving average price is $169.48 and its two-hundred day moving average price is $179.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.53.

Zoetis (NYSE:ZTS - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the previous year, the business posted $1.36 EPS. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from Zoetis's previous quarterly dividend of $0.43. Zoetis's dividend payout ratio is currently 37.59%.

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.