Industrial Alliance Investment Management Inc. Has $217,000 Position in Zoetis Inc. (NYSE:ZTS)

Industrial Alliance Investment Management Inc. lessened its holdings in Zoetis Inc. (NYSE:ZTS) by 31.2% in the first quarter, HoldingsChannel reports. The fund owned 1,283 shares of the company’s stock after selling 583 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Zoetis were worth $217,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ZTS. Norges Bank bought a new stake in shares of Zoetis in the fourth quarter valued at about $980,646,000. Price T Rowe Associates Inc. MD lifted its position in Zoetis by 31.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,716,681 shares of the company’s stock worth $2,707,262,000 after purchasing an additional 3,244,074 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Zoetis during the fourth quarter worth about $242,757,000. CIBC Private Wealth Group LLC lifted its position in Zoetis by 122.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,448,665 shares of the company’s stock worth $285,923,000 after purchasing an additional 797,884 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Zoetis by 44.4% during the fourth quarter. Corient Private Wealth LLC now owns 1,953,508 shares of the company’s stock worth $385,564,000 after purchasing an additional 600,804 shares during the period. Institutional investors own 92.80% of the company’s stock.

Analysts Set New Price Targets

ZTS has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on Zoetis from $223.00 to $196.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Piper Sandler reissued an “overweight” rating and set a $195.00 target price (down previously from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Barclays decreased their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 23rd. HSBC reduced their price objective on shares of Zoetis from $230.00 to $225.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, BTIG Research assumed coverage on Zoetis in a report on Thursday, July 25th. They issued a “buy” rating and a $220.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $212.67.

Zoetis Stock Performance

Shares of Zoetis stock traded down $0.05 during trading hours on Wednesday, hitting $181.78. 684,238 shares of the company’s stock traded hands, compared to its average volume of 2,797,935. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $201.92. The stock has a market capitalization of $82.95 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 2.82 and a beta of 0.86. The company has a fifty day simple moving average of $174.84 and a 200-day simple moving average of $175.77. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.33 and a quick ratio of 1.94.

Zoetis (NYSE:ZTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. Equities research analysts anticipate that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Thursday, July 18th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.95%. Zoetis’s dividend payout ratio (DPR) is presently 33.33%.

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.