Icon Wealth Advisors LLC Sells 530 Shares of Zoetis Inc. (NYSE:ZTS)

Icon Wealth Advisors LLC reduced its position in Zoetis Inc. (NYSE:ZTS) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,608 shares of the company’s stock after selling 530 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Zoetis were worth $4,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in Zoetis in the 3rd quarter valued at about $31,000. First Personal Financial Services bought a new stake in shares of Zoetis in the third quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new stake in shares of Zoetis during the 3rd quarter valued at approximately $33,000. Quarry LP boosted its holdings in Zoetis by 273.2% in the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after buying an additional 153 shares during the period. Finally, Fortitude Family Office LLC grew its stake in Zoetis by 1,387.5% in the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ZTS. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research increased their price objective on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Argus raised Zoetis to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus raised 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $221.44.

Zoetis Stock Performance

Zoetis stock opened at $176.74 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.27 and a current ratio of 3.69. The stock has a market cap of $79.74 billion, a P/E ratio of 33.22, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. The firm’s fifty day moving average price is $184.18 and its 200-day moving average price is $180.78.

Zoetis (NYSE:ZTS) last released its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Zoetis Inc. will post 5.9 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is currently 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.