SVB Wealth LLC Acquires New Shares in Zoetis Inc. (NYSE:ZTS)

SVB Wealth LLC bought a new position in Zoetis Inc. (NYSE:ZTS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 57,752 shares of the company’s stock, valued at approximately $9,409,000.

Several other large investors have also recently bought and sold shares of the company. Callahan Advisors LLC increased its stake in shares of Zoetis by 90.4% in the fourth quarter. Callahan Advisors LLC now owns 13,105 shares of the company’s stock valued at $2,135,000 after buying an additional 6,221 shares during the period. Pensionfund Sabic grew its holdings in Zoetis by 55.6% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the company’s stock worth $1,825,000 after acquiring an additional 4,000 shares during the last quarter. PFW Advisors LLC acquired a new position in Zoetis in the 4th quarter valued at approximately $1,764,000. CIBC Asset Management Inc increased its position in Zoetis by 24.1% in the 4th quarter. CIBC Asset Management Inc now owns 237,369 shares of the company’s stock valued at $38,617,000 after acquiring an additional 46,050 shares during the period. Finally, Alberta Investment Management Corp raised its stake in shares of Zoetis by 2,050.0% during the fourth quarter. Alberta Investment Management Corp now owns 30,100 shares of the company’s stock valued at $4,904,000 after acquiring an additional 28,700 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. StockNews.com downgraded Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday. Stifel Nicolaus decreased their price target on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Piper Sandler raised their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Morgan Stanley lowered their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus price target of $215.90.

Insider Activity

In related news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total transaction of $55,804.68. Following the transaction, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This represents a 1.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Zoetis Trading Up 1.6 %

Shares of ZTS stock opened at $167.58 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The stock has a 50 day simple moving average of $166.30 and a two-hundred day simple moving average of $177.38. The company has a market cap of $75.04 billion, a P/E ratio of 30.64, a PEG ratio of 2.78 and a beta of 0.90.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. Research analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.19%. Zoetis’s dividend payout ratio (DPR) is presently 36.56%.

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.