Zoetis Inc. (NYSE:ZTS) Holdings Reduced by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC lessened its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,041 shares of the company’s stock after selling 139 shares during the period. Opal Wealth Advisors LLC’s holdings in Zoetis were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ZTS. Vanguard Group Inc. raised its stake in Zoetis by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 40,749,571 shares of the company’s stock valued at $6,895,235,000 after acquiring an additional 414,605 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zoetis by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 4,687,902 shares of the company’s stock valued at $812,695,000 after purchasing an additional 178,303 shares in the last quarter. Capital Research Global Investors lifted its holdings in Zoetis by 2.3% in the first quarter. Capital Research Global Investors now owns 4,050,681 shares of the company’s stock worth $685,416,000 after purchasing an additional 90,330 shares during the period. Clearbridge Investments LLC grew its position in Zoetis by 5.8% in the 2nd quarter. Clearbridge Investments LLC now owns 3,044,384 shares of the company’s stock valued at $527,774,000 after buying an additional 166,517 shares in the last quarter. Finally, Sarasin & Partners LLP increased its stake in Zoetis by 546.3% during the 2nd quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after buying an additional 1,904,899 shares during the period. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ZTS. Piper Sandler upped their price target on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, BTIG Research lifted their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $221.44.

Zoetis Trading Up 1.1 %

NYSE:ZTS opened at $194.45 on Thursday. The stock has a fifty day simple moving average of $188.76 and a 200 day simple moving average of $176.70. The firm has a market capitalization of $88.10 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 2.99 and a beta of 0.89. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32.

Zoetis (NYSE:ZTS) last announced its earnings results on Tuesday, August 6th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is currently 33.86%.

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.