Platform Technology Partners Sells 99 Shares of Zoetis Inc. (NYSE:ZTS)

Platform Technology Partners decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,185 shares of the company’s stock after selling 99 shares during the quarter. Platform Technology Partners’ holdings in Zoetis were worth $427,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ZTS. Empowered Funds LLC boosted its holdings in shares of Zoetis by 26.3% in the first quarter. Empowered Funds LLC now owns 8,017 shares of the company’s stock valued at $1,357,000 after purchasing an additional 1,671 shares during the period. US Bancorp DE lifted its holdings in shares of Zoetis by 1.8% in the 1st quarter. US Bancorp DE now owns 151,276 shares of the company’s stock worth $25,600,000 after buying an additional 2,623 shares during the period. Avantax Advisory Services Inc. grew its position in shares of Zoetis by 6.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,223 shares of the company’s stock worth $1,730,000 after buying an additional 596 shares in the last quarter. William Allan Corp grew its position in shares of Zoetis by 1.8% during the 1st quarter. William Allan Corp now owns 12,425 shares of the company’s stock worth $2,102,000 after buying an additional 225 shares in the last quarter. Finally, Rogco LP increased its stake in shares of Zoetis by 36.4% during the first quarter. Rogco LP now owns 1,987 shares of the company’s stock valued at $336,000 after buying an additional 530 shares during the period. 92.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Argus raised shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research upped their price target 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. Piper Sandler lifted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Stifel Nicolaus lifted their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

Shares of ZTS stock opened at $176.16 on Tuesday. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The business’s fifty day simple moving average is $188.00 and its 200-day simple moving average is $179.93. The company has a current ratio of 3.69, a quick ratio of 2.09 and a debt-to-equity ratio of 1.26. The company has a market cap of $79.48 billion, a PE ratio of 33.11, a PEG ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last announced its earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal 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 given a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s payout ratio is currently 32.33%.

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.