Beacon Investment Advisory Services Inc. Purchases 1,155 Shares of Zoetis Inc. (NYSE:ZTS)

Beacon Investment Advisory Services Inc. raised its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,944 shares of the company’s stock after purchasing an additional 1,155 shares during the quarter. Zoetis accounts for approximately 1.2% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 29th largest position. Beacon Investment Advisory Services Inc.’s holdings in Zoetis were worth $28,124,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. raised its stake in shares of Zoetis by 2,038.6% in the third quarter. Benjamin Edwards Inc. now owns 161,655 shares of the company’s stock worth $31,583,000 after purchasing an additional 154,096 shares during the last quarter. Kestra Investment Management LLC bought a new position in Zoetis during the 3rd quarter valued at $572,000. FSA Wealth Management LLC bought a new position in Zoetis during the 3rd quarter valued at $83,000. B&L Asset Management LLC bought a new stake in shares of Zoetis in the 3rd quarter worth $563,000. Finally, Erste Asset Management GmbH bought a new position in shares of Zoetis during the third quarter valued at about $19,446,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Zoetis Trading Down 0.8 %

Zoetis stock opened at $175.25 on Monday. The firm’s fifty day moving average price is $183.83 and its 200-day moving average price is $180.97. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The stock has a market cap of $79.07 billion, a P/E ratio of 32.94, a PEG ratio of 2.69 and a beta of 0.89. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.12. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business earned $1.36 earnings per share. Zoetis’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be paid a $0.432 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.99%. Zoetis’s dividend payout ratio is presently 32.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Leerink Partners started coverage on Zoetis in a research report on Monday. They set an “outperform” rating and a $215.00 price target for the company. BTIG Research upped their price objective on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their target price on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Argus upgraded Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler increased their price target on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $220.80.

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.