Portfolio Design Labs LLC Boosts Stake in Zoetis Inc. (NYSE:ZTS)

Portfolio Design Labs LLC increased its position in Zoetis Inc. (NYSE:ZTS) by 19.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,799 shares of the company’s stock after purchasing an additional 454 shares during the period. Portfolio Design Labs LLC’s holdings in Zoetis were worth $456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZTS. Atlantic Edge Private Wealth Management LLC raised its stake in Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Wealthcare Capital Partners LLC purchased a new stake in Zoetis during the 4th quarter valued at approximately $308,000. Stonebridge Financial Group LLC purchased a new stake in Zoetis during the 4th quarter valued at approximately $170,000. Summit Trail Advisors LLC raised its stake in Zoetis by 46.9% during the 4th quarter. Summit Trail Advisors LLC now owns 9,269 shares of the company’s stock valued at $1,510,000 after acquiring an additional 2,961 shares during the last quarter. Finally, Arlington Trust Co LLC raised its stake in Zoetis by 55.6% during the 4th quarter. Arlington Trust Co LLC now owns 1,327 shares of the company’s stock valued at $216,000 after acquiring an additional 474 shares during the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group assumed coverage on Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective for the company. Leerink Partners began coverage on Zoetis in a research note on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Piper Sandler cut their target price on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus cut their target price on Zoetis from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley cut their target price on Zoetis from $248.00 to $243.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $214.00.

Zoetis Stock Performance

ZTS opened at $173.99 on Thursday. The stock has a market cap of $78.50 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.77 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The stock’s 50 day simple moving average is $169.11 and its 200 day simple moving average is $179.11. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $200.53.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio is currently 37.59%.

Insider Buying and Selling

In related news, EVP Roxanne Lagano sold 326 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

About Zoetis

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.