Zoetis Inc. (NYSE:ZTS) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,771 shares of the company’s stock after selling 875 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Zoetis were worth $2,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Webster Bank N. A. lifted its position in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares in the last quarter. Quarry LP boosted its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Zoetis during the 1st quarter worth $43,000. Central Valley Advisors LLC acquired a new position in Zoetis during the 2nd quarter worth approximately $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Zoetis during the 1st quarter valued at approximately $51,000. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 2.7 %

Shares of Zoetis stock traded down $5.06 during midday trading on Thursday, hitting $183.93. The company’s stock had a trading volume of 719,645 shares, compared to its average volume of 2,499,206. The stock has a 50-day simple moving average of $189.23 and a 200-day simple moving average of $177.58. The firm has a market capitalization of $83.33 billion, a P/E ratio of 36.98, a PEG ratio of 2.94 and a beta of 0.89. 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 Inc. has a 1-year low of $144.80 and a 1-year high of $201.92.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Zoetis Inc. will post 5.83 earnings per share for the current year.

Zoetis Announces Dividend

The company 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 dividend of $0.432 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.94%. Zoetis’s payout ratio is 33.86%.

Analyst Ratings Changes

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

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.