Belpointe Asset Management LLC Cuts Holdings in Zoetis Inc. (NYSE:ZTS)

Belpointe Asset Management LLC decreased its stake in Zoetis Inc. (NYSE:ZTS) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,893 shares of the company’s stock after selling 136 shares during the period. Belpointe Asset Management LLC’s holdings in Zoetis were worth $308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mission Wealth Management LP lifted its holdings in Zoetis by 2.0% in the 4th quarter. Mission Wealth Management LP now owns 2,938 shares of the company’s stock worth $479,000 after purchasing an additional 59 shares in the last quarter. VeraBank N.A. grew its stake in Zoetis by 4.1% during the fourth quarter. VeraBank N.A. now owns 1,562 shares of the company’s stock valued at $254,000 after acquiring an additional 62 shares in the last quarter. HUB Investment Partners LLC increased its holdings in Zoetis by 4.7% in the 4th quarter. HUB Investment Partners LLC now owns 1,373 shares of the company’s stock valued at $224,000 after acquiring an additional 62 shares during the last quarter. Procyon Advisors LLC lifted its stake in Zoetis by 1.4% in the 4th quarter. Procyon Advisors LLC now owns 4,712 shares of the company’s stock worth $768,000 after purchasing an additional 63 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its holdings in shares of Zoetis by 6.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,045 shares of the company’s stock valued at $170,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Down 1.6 %

ZTS opened at $146.78 on Thursday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. 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 market cap of $65.49 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.78 and a beta of 0.92. The stock’s 50 day moving average price is $161.02 and its 200-day moving average price is $170.60.

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

Zoetis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be paid a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.36%. Zoetis’s dividend payout ratio is currently 36.56%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler boosted their target price on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. StockNews.com upgraded Zoetis from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Morgan Stanley reduced their price target on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus dropped their price objective on shares of Zoetis from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $214.40.

Insider Transactions at Zoetis

In related news, Director Willie M. Reed sold 1,210 shares of Zoetis stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares in the company, valued at approximately $2,682,770. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is currently owned by company insiders.

Zoetis Company 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.