TrinityPoint Wealth LLC Sells 1,939 Shares of Zoetis Inc. (NYSE:ZTS)

TrinityPoint Wealth LLC lowered its stake in shares of Zoetis Inc. (NYSE:ZTS) by 5.0% in the third quarter, Holdings Channel reports. The firm owned 37,183 shares of the company’s stock after selling 1,939 shares during the period. Zoetis comprises about 1.0% of TrinityPoint Wealth LLC’s holdings, making the stock its 20th biggest position. TrinityPoint Wealth LLC’s holdings in Zoetis were worth $7,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in shares of Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock worth $16,259,000 after buying an additional 70,476 shares during the period. Acadian Asset Management LLC lifted its position in Zoetis by 49.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,051 shares of the company’s stock worth $4,235,000 after acquiring an additional 8,302 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in Zoetis during the first quarter valued at about $688,000. Bank Pictet & Cie Asia Ltd. grew its position in shares of Zoetis by 41.0% in the second quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock valued at $6,501,000 after purchasing an additional 10,900 shares during the last quarter. Finally, Simplify Asset Management Inc. bought a new position in shares of Zoetis in the third quarter worth about $11,684,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Wall Street Analyst Weigh In

ZTS has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased 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. BTIG Research raised their price objective on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Sandler upped their target price on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus upped 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. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus target price of $221.44.

Zoetis Stock Performance

NYSE ZTS opened at $175.14 on Monday. Zoetis Inc. has a twelve month low of $144.80 and a twelve month high of $201.92. The company has a quick ratio of 2.27, a current ratio of 3.69 and a debt-to-equity ratio of 1.26. The stock has a market cap of $79.02 billion, a P/E ratio of 32.92, a PEG ratio of 2.69 and a beta of 0.90. The company’s 50-day simple moving average is $187.09 and its 200 day simple moving average is $180.38.

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

Zoetis Dividend Announcement

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

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.