Broadway Wealth Solutions Inc. Takes $273,000 Position in Zoetis Inc. (NYSE:ZTS)

Broadway Wealth Solutions Inc. acquired a new stake in Zoetis Inc. (NYSE:ZTS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,673 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZTS. New Age Alpha Advisors LLC bought a new position in shares of Zoetis in the fourth quarter worth $4,047,000. AKO Capital LLP lifted its position in Zoetis by 0.9% in the fourth quarter. AKO Capital LLP now owns 1,505,938 shares of the company’s stock valued at $245,362,000 after purchasing an additional 13,800 shares during the last quarter. Norges Bank purchased a new position in Zoetis during the 4th quarter valued at about $824,321,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Zoetis in the 4th quarter worth about $311,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Zoetis by 2.4% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,036 shares of the company’s stock worth $1,472,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ZTS. UBS Group began coverage on Zoetis in a research report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective on the stock. Leerink Partners assumed coverage on shares of Zoetis in a research note on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price objective for the company. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Piper Sandler boosted their price target on Zoetis from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One 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. According to data from MarketBeat, Zoetis has a consensus rating of “Buy” and an average price target of $215.90.

Insiders Place Their Bets

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

Zoetis Stock Performance

Shares of ZTS opened at $165.12 on Friday. 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 Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The stock has a market capitalization of $73.94 billion, a P/E ratio of 30.19, a P/E/G ratio of 2.78 and a beta of 0.94. The firm’s 50 day moving average is $166.46 and its 200-day moving average is $174.87.

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

Zoetis Dividend Announcement

The business 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 1.21%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio (DPR) is currently 36.56%.

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.