Ipswich Investment Management Co. Inc. decreased its holdings in shares of Zoetis Inc (NYSE:ZTS) by 23.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,384 shares of the company’s stock after selling 745 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Zoetis were worth $240,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Berman Capital Advisors LLC purchased a new position in shares of Zoetis in the 4th quarter worth approximately $26,000. Athena Capital Advisors LLC acquired a new stake in Zoetis in the 4th quarter worth approximately $29,000. TCI Wealth Advisors Inc. boosted its stake in Zoetis by 123.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 344 shares of the company’s stock worth $35,000 after purchasing an additional 190 shares in the last quarter. Resources Investment Advisors Inc. acquired a new stake in Zoetis in the 4th quarter worth approximately $31,000. Finally, Lavaca Capital LLC acquired a new stake in Zoetis in the 4th quarter worth approximately $32,000. 91.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE ZTS opened at $103.75 on Friday. The firm has a market capitalization of $49.72 billion, a P/E ratio of 31.73, a P/E/G ratio of 2.29 and a beta of 0.91. The company has a quick ratio of 2.46, a current ratio of 3.60 and a debt-to-equity ratio of 2.95. Zoetis Inc has a one year low of $78.90 and a one year high of $103.97.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, April 18th will be issued a $0.164 dividend. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, April 17th. Zoetis’s payout ratio is presently 21.09%.
ZTS has been the subject of a number of recent analyst reports. Stifel Nicolaus upgraded shares of Zoetis from a “hold” rating to a “buy” rating and lifted their target price for the stock from $97.00 to $110.00 in a research note on Monday, March 4th. Zacks Investment Research upgraded shares of Zoetis from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Friday, April 19th. Gabelli cut shares of Zoetis from a “buy” rating to a “hold” rating and set a $108.00 price objective for the company. in a research note on Thursday. They noted that the move was a valuation call. SunTrust Banks began coverage on shares of Zoetis in a research note on Tuesday, March 19th. They set a “hold” rating and a $100.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on shares of Zoetis from $93.00 to $101.00 and gave the company a “market perform” rating in a research note on Monday, February 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Zoetis presently has an average rating of “Buy” and a consensus target price of $102.85.
In other news, EVP Clinton A. Jr. Lewis sold 6,124 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $101.60, for a total transaction of $622,198.40. Following the completion of the sale, the executive vice president now owns 54,484 shares of the company’s stock, valued at $5,535,574.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Roxanne Lagano sold 2,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $101.89, for a total transaction of $203,780.00. Following the sale, the insider now directly owns 30,727 shares of the company’s stock, valued at approximately $3,130,774.03. The disclosure for this sale can be found here. Insiders have sold 410,333 shares of company stock valued at $38,674,547 in the last ninety days. Insiders own 0.29% of the company’s stock.
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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