Tritonpoint Wealth LLC Sells 3,053 Shares of Zoetis Inc. (NYSE:ZTS)

Tritonpoint Wealth LLC reduced its position in Zoetis Inc. (NYSE:ZTS) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,936 shares of the company’s stock after selling 3,053 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Zoetis were worth $4,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Rakuten Securities Inc. grew its position in shares of Zoetis by 5,533.3% in the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Navigoe LLC bought a new stake in Zoetis during the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis during the fourth quarter worth about $44,000. Asset Planning Inc bought a new stake in shares of Zoetis in the 4th quarter valued at about $58,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Zoetis in the 4th quarter valued at about $59,000. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of recent research reports. Piper Sandler boosted their target price on Zoetis from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. UBS Group reduced their target price on Zoetis from $189.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley cut their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Barclays upped their price target on Zoetis from $242.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Wall Street Zen upgraded Zoetis from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Zoetis has a consensus rating of “Buy” and a consensus price target of $212.75.

Insider Activity

In other news, EVP Roxanne Lagano sold 652 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $170.00, for a total transaction of $110,840.00. Following the completion of the transaction, the executive vice president now owns 15,129 shares in the company, valued at $2,571,930. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Zoetis Price Performance

Shares of Zoetis stock opened at $164.27 on Friday. Zoetis Inc. has a one year low of $139.70 and a one year high of $200.33. The stock’s fifty day moving average is $158.67 and its 200 day moving average is $164.01. The stock has a market cap of $73.13 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, May 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Zoetis’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. Sell-side analysts anticipate that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, July 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 18th. This represents a $2.00 dividend on an annualized basis and a yield of 1.22%. Zoetis’s dividend payout ratio is presently 35.91%.

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.