SVB Wealth LLC Sells 22,868 Shares of Zoetis Inc. (NYSE:ZTS)

SVB Wealth LLC reduced its position in shares of Zoetis Inc. (NYSE:ZTS) by 22.8% in the fourth quarter, Holdings Channel reports. The firm owned 77,499 shares of the company’s stock after selling 22,868 shares during the quarter. SVB Wealth LLC’s holdings in Zoetis were worth $15,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ZTS. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Zoetis by 7.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 93,735 shares of the company’s stock valued at $16,308,000 after acquiring an additional 6,457 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in shares of Zoetis during the 4th quarter valued at about $2,776,000. BLB&B Advisors LLC boosted its holdings in shares of Zoetis by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 60,872 shares of the company’s stock valued at $10,591,000 after acquiring an additional 1,107 shares during the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Zoetis by 5.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 6,216 shares of the company’s stock valued at $1,070,000 after acquiring an additional 317 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Zoetis by 10.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 183,564 shares of the company’s stock valued at $36,230,000 after acquiring an additional 17,976 shares during the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ZTS shares. Stifel Nicolaus dropped their price target on shares of Zoetis from $215.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. The Goldman Sachs Group raised their price objective on shares of Zoetis from $190.00 to $226.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays raised their price objective on shares of Zoetis from $255.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Piper Sandler reissued an “overweight” rating and issued a $195.00 price objective (down previously from $220.00) on shares of Zoetis in a report on Tuesday. Finally, StockNews.com downgraded shares of Zoetis from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $221.75.

Zoetis Price Performance

NYSE:ZTS traded up $3.02 during trading hours on Tuesday, hitting $152.79. 1,216,821 shares of the stock traded hands, compared to its average volume of 2,906,440. The company has a quick ratio of 2.00, a current ratio of 3.36 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 1 year low of $148.48 and a 1 year high of $201.92. The company has a market cap of $69.88 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 2.29 and a beta of 0.85. The stock has a 50 day moving average price of $179.11 and a 200 day moving average price of $180.74.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.08). Zoetis had a net margin of 27.43% and a return on equity of 51.25%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm earned $1.15 EPS. Zoetis’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Zoetis Inc. will post 5.8 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, April 18th. Zoetis’s dividend payout ratio is currently 33.93%.

Insider Activity

In other news, EVP Roxanne Lagano sold 923 shares of Zoetis stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $191.43, for a total transaction of $176,689.89. Following the sale, the executive vice president now owns 17,569 shares in the company, valued at $3,363,233.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 2,209 shares of company stock worth $408,453 over the last quarter. Insiders own 0.12% of the company’s stock.

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.