Douglas Lane & Associates LLC Purchases 997 Shares of Zoetis Inc. (NYSE:ZTS)

Douglas Lane & Associates LLC grew its position in Zoetis Inc. (NYSE:ZTS) by 13.9% during the second quarter, HoldingsChannel reports. The firm owned 8,175 shares of the company’s stock after buying an additional 997 shares during the period. Douglas Lane & Associates LLC’s holdings in Zoetis were worth $1,417,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ZTS. Blue Bell Private Wealth Management LLC grew its position in shares of Zoetis by 222.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after buying an additional 89 shares during the period. Webster Bank N. A. increased its stake in Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Zoetis during the fourth quarter valued at about $33,000. Gladius Capital Management LP bought a new position in shares of Zoetis during the 4th quarter worth about $40,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Zoetis in the 4th quarter valued at about $40,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Up 6.0 %

Shares of NYSE ZTS traded up $10.47 during trading on Tuesday, hitting $185.29. The stock had a trading volume of 3,740,654 shares, compared to its average volume of 2,808,195. The firm has a fifty day moving average of $175.53 and a two-hundred day moving average of $175.38. The company has a market capitalization of $84.55 billion, a PE ratio of 36.44, a PEG ratio of 2.80 and a beta of 0.86. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92.

Zoetis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ZTS shares. HSBC dropped their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. The Goldman Sachs Group reduced their price target on shares of Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research report on Monday, May 6th. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday, April 16th. BTIG Research started coverage on shares of Zoetis in a report on Thursday, July 25th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Barclays decreased their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus price target of $214.89.

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.