Axxcess Wealth Management LLC Sells 2,421 Shares of Zoetis Inc. (NYSE:ZTS)

Axxcess Wealth Management LLC decreased its stake in shares of Zoetis Inc. (NYSE:ZTS) by 60.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,576 shares of the company’s stock after selling 2,421 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Zoetis were worth $257,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ZTS. Raymond James Financial Inc. bought a new stake in Zoetis in the 4th quarter valued at about $196,651,000. Polen Capital Management LLC boosted its holdings in Zoetis by 17.5% in the 4th quarter. Polen Capital Management LLC now owns 7,483,194 shares of the company’s stock valued at $1,219,237,000 after purchasing an additional 1,116,541 shares during the period. Amundi boosted its holdings in Zoetis by 46.2% in the 4th quarter. Amundi now owns 2,748,719 shares of the company’s stock valued at $453,355,000 after purchasing an additional 867,993 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Zoetis by 296.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 889,444 shares of the company’s stock valued at $144,917,000 after purchasing an additional 665,331 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Zoetis by 38.3% in the 4th quarter. Nordea Investment Management AB now owns 2,065,514 shares of the company’s stock valued at $336,266,000 after purchasing an additional 572,511 shares during the period. Institutional investors own 92.80% of the company’s stock.

Zoetis Price Performance

ZTS stock opened at $162.86 on Friday. The company has a 50 day simple moving average of $166.76 and a 200 day simple moving average of $175.47. The stock has a market cap of $72.93 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $200.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.75 and a quick ratio of 1.08.

Zoetis (NYSE:ZTS) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Zoetis had a net margin of 26.86% and a return on equity of 53.82%. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Research analysts anticipate that Zoetis Inc. will post 6.07 EPS for the current fiscal year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is 36.56%.

Insiders Place Their Bets

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the sale, the executive vice president now directly owns 15,781 shares of the company’s stock, valued at $2,682,770. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Willie M. Reed sold 1,210 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total transaction of $201,029.40. Following the sale, the director now directly owns 11,245 shares in the company, valued at $1,868,244.30. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,862 shares of company stock valued at $312,254 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

ZTS has been the subject of a number of recent research reports. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Leerink Partners assumed coverage on shares of Zoetis in a research report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price for the company. Piper Sandler boosted their target price on shares of Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $215.90.

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.