Sumitomo Life Insurance Co. lifted its holdings in Zoetis Inc (NYSE:ZTS) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 37,350 shares of the company’s stock after buying an additional 1,356 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Zoetis were worth $4,239,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Zoetis in the 1st quarter valued at $25,000. Glassman Wealth Services lifted its stake in shares of Zoetis by 306.5% in the 1st quarter. Glassman Wealth Services now owns 252 shares of the company’s stock valued at $25,000 after purchasing an additional 190 shares during the last quarter. JJJ Advisors Inc. acquired a new stake in shares of Zoetis in the 2nd quarter valued at $25,000. Private Ocean LLC acquired a new stake in shares of Zoetis in the 1st quarter valued at $27,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Zoetis by 123.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 344 shares of the company’s stock valued at $35,000 after purchasing an additional 190 shares during the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
Shares of ZTS traded up $7.98 during trading hours on Tuesday, reaching $120.55. 2,522,541 shares of the company traded hands, compared to its average volume of 1,709,237. The firm has a fifty day moving average of $114.23. The firm has a market cap of $57.14 billion, a PE ratio of 38.52, a P/E/G ratio of 3.18 and a beta of 0.92. The company has a current ratio of 4.05, a quick ratio of 2.79 and a debt-to-equity ratio of 2.84. Zoetis Inc has a 1-year low of $78.90 and a 1-year high of $117.03.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 19th will be given a dividend of $0.164 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s dividend payout ratio is currently 21.09%.
Several equities research analysts recently issued reports on ZTS shares. Barclays started coverage on shares of Zoetis in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $120.00 price objective for the company. BMO Capital Markets boosted their target price on shares of Zoetis from $101.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Bank of America lowered shares of Zoetis from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $111.00 to $120.00 in a research report on Monday, July 1st. They noted that the move was a valuation call. Craig Hallum boosted their target price on shares of Zoetis from $114.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Gabelli lowered shares of Zoetis from a “buy” rating to a “hold” rating and set a $108.00 price objective for the company. in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $111.73.
In other Zoetis news, insider Clinton A. Jr. Lewis sold 6,123 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $113.09, for a total transaction of $692,450.07. Following the sale, the insider now directly owns 46,812 shares of the company’s stock, valued at $5,293,969.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn David sold 8,191 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $102.22, for a total transaction of $837,284.02. The disclosure for this sale can be found here. Insiders have sold 76,613 shares of company stock valued at $7,963,366 in the last ninety days. 0.29% of the stock is owned by company insiders.
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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