Avidian Wealth Solutions LLC Acquires 75 Shares of Zoetis Inc. (NYSE:ZTS)

Avidian Wealth Solutions LLC raised its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,914 shares of the company’s stock after buying an additional 75 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Zoetis were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ZTS. Cary Street Partners Investment Advisory LLC raised its stake in Zoetis by 7.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock valued at $16,308,000 after purchasing an additional 6,457 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of Zoetis during the 4th quarter valued at about $2,776,000. Ninety One UK Ltd lifted its holdings in shares of Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock valued at $21,374,000 after acquiring an additional 12,537 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Zoetis by 10.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after acquiring an additional 17,976 shares in the last quarter. Finally, Advisor Partners II LLC increased its stake in Zoetis by 4.0% during the third quarter. Advisor Partners II LLC now owns 24,068 shares of the company’s stock worth $4,187,000 after acquiring an additional 922 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 1.1 %

Shares of Zoetis stock traded down $1.83 on Monday, hitting $165.24. 1,481,050 shares of the company traded hands, compared to its average volume of 3,157,763. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market cap of $75.40 billion, a PE ratio of 32.12, a PEG ratio of 2.62 and a beta of 0.86. The stock’s 50 day moving average price is $168.88 and its 200-day moving average price is $178.93. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30.

Zoetis (NYSE:ZTS) last issued its earnings results on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the company posted $1.31 EPS. Zoetis’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Zoetis Inc. will post 5.77 EPS for the current year.

Zoetis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, April 18th. Zoetis’s payout ratio is 33.33%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZTS. The Goldman Sachs Group lowered their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday. Barclays lowered their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus lowered their target price on shares of Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a research note on Tuesday, April 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $212.38.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 363 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $197.74, for a total value of $71,779.62. Following the completion of the sale, the executive vice president now owns 20,417 shares of the company’s stock, valued at approximately $4,037,257.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 2,209 shares of company stock valued at $371,293. Company insiders own 0.16% of the company’s stock.

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.