Icon Wealth Advisors LLC Sells 530 Shares of Zoetis Inc. (NYSE:ZTS)

Icon Wealth Advisors LLC trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,608 shares of the company’s stock after selling 530 shares during the period. Icon Wealth Advisors LLC’s holdings in Zoetis were worth $4,026,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kennedy Capital Management LLC acquired a new position in shares of Zoetis during the first quarter valued at about $883,000. Tidal Investments LLC raised its stake in Zoetis by 9.8% during the 1st quarter. Tidal Investments LLC now owns 8,703 shares of the company’s stock worth $1,471,000 after buying an additional 776 shares during the period. LRI Investments LLC bought a new position in Zoetis in the first quarter worth approximately $43,000. Burney Co. grew its stake in Zoetis by 10.1% in the first quarter. Burney Co. now owns 4,229 shares of the company’s stock valued at $716,000 after acquiring an additional 387 shares during the period. Finally, PGGM Investments increased its holdings in shares of Zoetis by 2.7% during the first quarter. PGGM Investments now owns 29,252 shares of the company’s stock valued at $4,950,000 after acquiring an additional 779 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Price Performance

Shares of NYSE ZTS opened at $176.74 on Friday. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $79.74 billion, a PE ratio of 33.22, a PEG ratio of 2.71 and a beta of 0.90. The stock’s 50 day moving average price is $184.18 and its 200-day moving average price is $180.78. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping 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 business 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 firm earned $1.36 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current year.

Zoetis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be issued a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.98%. Zoetis’s dividend payout ratio (DPR) is presently 32.52%.

Wall Street Analyst Weigh In

ZTS has been the subject of several research reports. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research boosted their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus raised their price target on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $221.44.

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.