Thrive Wealth Management LLC Buys 487 Shares of Zoetis Inc. (NYSE:ZTS)

Thrive Wealth Management LLC raised its holdings in Zoetis Inc. (NYSE:ZTS) by 8.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,161 shares of the company’s stock after acquiring an additional 487 shares during the quarter. Thrive Wealth Management LLC’s holdings in Zoetis were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Peak Financial Advisors LLC bought a new position in Zoetis in the 4th quarter valued at $2,776,000. Focus Financial Network Inc. ADV bought a new position in Zoetis in the 4th quarter worth about $2,159,000. Price T Rowe Associates Inc. MD boosted its stake in Zoetis by 31.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Ninety One UK Ltd boosted its stake in Zoetis by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 108,293 shares of the company’s stock worth $21,374,000 after purchasing an additional 12,537 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Zoetis by 10.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock worth $36,230,000 after purchasing an additional 17,976 shares during the period. 92.80% of the stock is owned by institutional investors and hedge funds.

Zoetis Trading Down 0.5 %

ZTS traded down $0.88 on Friday, hitting $175.58. 146,086 shares of the company were exchanged, compared to its average volume of 2,937,430. The firm has a fifty day simple moving average of $167.68 and a two-hundred day simple moving average of $178.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.94 and a current ratio of 3.33. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The stock has a market capitalization of $80.12 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.31 EPS. Sell-side analysts expect that Zoetis Inc. will post 5.76 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a $0.432 dividend. The ex-dividend date is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. Zoetis’s dividend payout ratio is currently 33.33%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total value of $139,529.91. Following the sale, the executive vice president now directly owns 14,800 shares in the company, valued at approximately $2,237,316. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price target on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $195.00 price target (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. HSBC lowered their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Barclays lowered their price target on Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 23rd. Finally, Stifel Nicolaus decreased their price objective on Zoetis from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zoetis currently has a consensus rating of “Buy” and an average target price of $211.75.

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.